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Toyota (TM) Exec: Not Banking On Electric Cars

Bill Reinert, the head of Toyota’s (NYSE ADR: TM) advanced powertrain research, stated that his company does not forsee the electric vehicle becoming the standard in the industry in the short-term future.

The man who spearheaded the successful Prius project believes that the market for electric vehicles in the United States is not large enough to justify a major developmental project for electric vehicles, or a transformation within the company towards electric production. He says that the current ranges - around 100 miles - promised by automakers such as Nissan and Ford (NYSE: F) are unrealistic and do not take into account highway driving, traffic conditions, or air conditioners and heaters draining the battery… more

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