It’s bullshit is what it is.

Hydrogen combustion can never work in a passenger vehicle, and ammonia doesn’t really solve the worst problems with that.

Toyota is just flailing around promising all kinds of crazy technology to try and keep people interested in them.

The amount of EVs on the road barely registers on the demand for oil.

https://arstechnica.com/cars/2023/11/280-million-e-bikes-are-slashing-oil-demand-far-more-than-electric-vehicles/

Bloomberg says e-bikes are already displacing about 1% of global oil demand. That’s a lot of oil.

Oil demand is up year over year.

SINOPEC announced that oil demand had already peaked in China, so this trend is likely to reverse a lot sooner than expected.

https://www.bnnbloomberg.ca/chinese-oil-refiners-spend-heavily-to-tap-clean-energy-boom-1.2004676

China is shifting production from fuel and into petrochemicals used to manufacture clean energy products. Each battery and solar panel they produce reduces fossil fuel demand.

Oil is used in the production of damn near every product on earth including EVs.

EV’s use a tiny fraction of the amount of petroleum used to fuel ICE.

Oil companies are astroturfing hard right now. Battery manufacturing is making a huge dent in oil demand.

Cheap batteries combined with IGBT inverter technology basically enable intermittent energy sources like wind and solar to be stored efficiently and at very low costs then sold at a premium when electricity demand is high.

EV batteries tend to outlast the vehicles they’re put into, so if EV production ramps up the market will get flooded with cheap used batteries that can be repurposed for grid storage. Natural gas can’t compete with that on price.

So just like every other electric car or device with batteries inside.

Who would’ve guessed

Tesla’s were appreciating for a while. Right now the depreciation is primarily driven by EV price cuts due to high competition and high interest rates.

Oil companies are panicking right now because the ramp up in battery manufacturing is severely impacting oil demand.

Toyota cut a secret deal with oil companies years ago over battery patents.

https://en.m.wikipedia.org/wiki/Patent_encumbrance_of_large_automotive_NiMH_batteries

That’s why Toyota is freaking out.