Toyota is looking for ways to cut EV production costs and increase their performance in order to catch up with Tesla's profit-per-vehicle that outnumbers it eightfold. Honda, on the other hand, another latecomer to the electric car era, is now becoming CATL's second largest battery customer after Tesla.https://www.notebookcheck.net/Toyota-and-Honda-prep-true-electric-car-pivots-to-match-Tesla-s-EV-production-costs-and-performance.674142.0.html
So Toyota is planning to het in 3 years from now where Tesla was 3 years ago. That will only put them behind every body else.
Behind at first.
I've been patiently waiting for Toyota or Honda to release their electric vehicles. I know they will. And they will(eventually) top anything Tesla makes.
Some people are OK waiting.
I have a Honda Civic from 2000 that has 200K miles and runs perfectly fine. I would like an electric vehicle, but I don't trust Tesla or most manufacturers models currently (the Kia looks mildly interesting, just costs too much)
I'm fine with waiting.