Toyota Warns That Falling Behind the Chinese Goes Beyond EVs
When most people think about electric cars, China isn’t the first name that comes to mind, but maybe it should be. Toyota has just sounded the alarm, and it’s not just about electric vehicles anymore. According to the company, China’s rise in the auto world is happening fast and across more than one area.
Let’s start with electric vehicles (EVs). Last year, over 17 million EVs were sold worldwide, and guess what? China sold more than 11 million of those. That’s more than 60% of the global market! Even though car makers like Volkswagen, Hyundai, and Kia are coming up with new models, China is still way ahead of the game.
And it’s not just the cars. China also controls most of the batteries that power them. Two Chinese companies, CATL and BYD, are leading the battery game. Together, they made over half of all EV batteries sold worldwide in 2024. Plus, their batteries are getting shipped and used all over the world; in Southeast Asia, Europe, and Latin America.
BYD, in particular, is killing it. Earlier this year, they launched a new car platform that allows super-fast charging, like adding 250 miles of range in just five minutes. Their new model, the Han L, starts at only about $30,000. On top of that, even their cheaper cars now come with advanced smart driving tech. Their new “Gods Eye” system helps with driving and safety, and other Chinese tech companies like Huawei and Momenta are joining the race with even fancier systems.
So, while most of the world is trying to catch up in the EV space, Toyota is saying, wait, there’s more. China is now ahead in hydrogen technology too.
Toyota has been working on hydrogen-powered cars for over 30 years. But their hydrogen division president, Misumasa Yamagata, recently admitted that China is taking the lead here as well. He warned, “We don’t have much time left, it’s important to accelerate quickly.”
Why is China doing so well in hydrogen tech? It’s mostly because their government is backing it in a big way. They’ve ordered that major delivery routes in the country be turned into “hydrogen highways.” That means more fueling stations, lower costs, and faster growth. In fact, hydrogen fuel in China is now only about a third of what it costs in Japan. Last year, China sold more hydrogen buses and trucks than all other countries combined.
Meanwhile, BYD is not just dominating at home, they’re going global. In April 2025 alone, they sold nearly 80,000 vehicles overseas. In total that month, they moved over 380,000 electric and hybrid vehicles. That’s not just impressive, it’s historic.
And things are only heating up. In Europe, BYD’s sales are expected to double this year. By 2029, they could be selling around 400,000 cars annually there.
Toyota’s message is clear: this isn’t just about EVs anymore. China is building strong foundations in both electric and hydrogen tech. Their companies are growing fast, selling more cars, and spreading out to new markets like Thailand, Mexico, Brazil, and Indonesia.
But while China is moving full speed ahead, some countries like the U.S. are putting up trade barriers and considering cutting EV incentives. Moves like that could make it even harder for other nations to compete.
In the end, it looks like China is not just shaping the future of cars, but leading it. Toyota sees what’s happening and is waving a red flag. If other automakers don’t speed up, they might find themselves permanently stuck in the rearview mirror.
For EV companies like Mullen Automotive Inc. (NASDAQ: MULN) that are looking to claim a bigger share of the BEV market around the world, the warning on China’s growing dominance issued by Toyota provides plenty of food for thought on strategy and production scaling.
NOTE TO INVESTORS: The latest news and updates relating to Mullen Automotive Inc. (NASDAQ: MULN) are available in the company’s newsroom at https://ibn.fm/MULN
Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published: https://www.TechMediaWire.com/Disclaimer
When most people think about electric cars, China isn’t the first name that comes to mind, but maybe it should be. Toyota has just sounded the alarm, and it’s not just about electric vehicles anymore. According to the company, China’s rise in the auto world is happening fast and across more than one area.
Let’s start with electric vehicles (EVs). Last year, over 17 million EVs were sold worldwide, and guess what? China sold more than 11 million of those. That’s more than 60% of the global market! Even though car makers like Volkswagen, Hyundai, and Kia are coming up with new models, China is still way ahead of the game.
And it’s not just the cars. China also controls most of the batteries that power them. Two Chinese companies, CATL and BYD, are leading the battery game. Together, they made over half of all EV batteries sold worldwide in 2024. Plus, their batteries are getting shipped and used all over the world; in Southeast Asia, Europe, and Latin America.
BYD, in particular, is killing it. Earlier this year, they launched a new car platform that allows super-fast charging, like adding 250 miles of range in just five minutes. Their new model, the Han L, starts at only about $30,000. On top of that, even their cheaper cars now come with advanced smart driving tech. Their new “Gods Eye” system helps with driving and safety, and other Chinese tech companies like Huawei and Momenta are joining the race with even fancier systems.
So, while most of the world is trying to catch up in the EV space, Toyota is saying, wait, there’s more. China is now ahead in hydrogen technology too.
Toyota has been working on hydrogen-powered cars for over 30 years. But their hydrogen division president, Misumasa Yamagata, recently admitted that China is taking the lead here as well. He warned, “We don’t have much time left, it’s important to accelerate quickly.”
Why is China doing so well in hydrogen tech? It’s mostly because their government is backing it in a big way. They’ve ordered that major delivery routes in the country be turned into “hydrogen highways.” That means more fueling stations, lower costs, and faster growth. In fact, hydrogen fuel in China is now only about a third of what it costs in Japan. Last year, China sold more hydrogen buses and trucks than all other countries combined.
Meanwhile, BYD is not just dominating at home, they’re going global. In April 2025 alone, they sold nearly 80,000 vehicles overseas. In total that month, they moved over 380,000 electric and hybrid vehicles. That’s not just impressive, it’s historic.
And things are only heating up. In Europe, BYD’s sales are expected to double this year. By 2029, they could be selling around 400,000 cars annually there.
Toyota’s message is clear: this isn’t just about EVs anymore. China is building strong foundations in both electric and hydrogen tech. Their companies are growing fast, selling more cars, and spreading out to new markets like Thailand, Mexico, Brazil, and Indonesia.
But while China is moving full speed ahead, some countries like the U.S. are putting up trade barriers and considering cutting EV incentives. Moves like that could make it even harder for other nations to compete.
In the end, it looks like China is not just shaping the future of cars, but leading it. Toyota sees what’s happening and is waving a red flag. If other automakers don’t speed up, they might find themselves permanently stuck in the rearview mirror.
For EV companies like Mullen Automotive Inc. (NASDAQ: MULN) that are looking to claim a bigger share of the BEV market around the world, the warning on China’s growing dominance issued by Toyota provides plenty of food for thought on strategy and production scaling.
NOTE TO INVESTORS: The latest news and updates relating to Mullen Automotive Inc. (NASDAQ: MULN) are available in the company’s newsroom at https://ibn.fm/MULN
Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published: https://www.TechMediaWire.com/Disclaimer
