How Japan is losing the global electric-vehicle race

Japan has lots of capital and employees and industry expertise attached to the internal combustion engine and they naturally don't want to give all that up.

But the only real choice they have at this point is either adapt or die. Electrification is happening, with or without them. The economic decision has already been made.

Toyota has been betting on hydrogen fuel cell. Their argument is more or less that there's not enough lithium for 100% EV and most of the world doesn't have access to cheap/dependable electricity.