Plummeting sales for electric vehicles is causing automakers to rethink their strategies.

Now an alliance is forming to move forward in a different direction.

And Joe Biden was fuming when automakers gave him this bad news about electric vehicles.

The Bidenmobile industry is in turmoil after demand for them collapsed.

President Joe Biden and Democrats sold them as the future of transportation, but that’s never been in more doubt.

Automakers have had to scale back their ambitious EV goals in the face of declining sales.

No one is making a profit from selling Bidenmobiles.

Ford lost nearly $6 billion on its electric division last year and is losing more than $130,000 on every electric vehicle sold this year.

Toyota expressed serious concerns about electric vehicles

Longtime Toyota CEO Akio Toyoda resigned in 2023 from leading the company after he became the rare auto executive to express skepticism about the electric vehicle revolution in 2022.

“Just like the fully autonomous cars that we are all supposed to be driving by now, EVs are just going to take longer to become mainstream than media would like us to believe,” Toyoda said at Toyota’s annual dealer meeting in 2022.

He predicted that automakers would be able to meet the ambitious emission standards set by Democrat-controlled California and other states that would kick in during the 2030s.

Toyoda also thought that shortages of key minerals for batteries in the future would disrupt the electric vehicle supply chain.

“Toyota can produce eight 40-mile plug-in hybrids for every one 320-mile battery electric vehicle and save up to eight times the carbon emitted into the atmosphere,” Toyoda said.

He was attacked by environmental extremist groups over skepticism about electric vehicles.

But Toyota didn’t become the largest automaker in the world by being foolish.

Toyota, Mazda, and Subaru are shunning EVs for cleaner fuels

Reality is setting for some of the biggest Japanese automakers that EVs are a losing proposition.

That’s why they’re headed in a new direction for making a lower-emission vehicle.

Toyota CEO Koji Sato announced that the company would work with fellow Japanese automakers Mazda and Subaru to make an internal combustion engine of the future.

The automakers would collaborate on making an engine that runs on clean fuels like hydrogen and bioethanol.

Sato said the “engine is optimized for the electrification era” to help lead the world into “carbon neutrality.”

The new engines will be smaller in size than traditional internal combustion engines.

“With these engines, each of the three companies will aim to optimize integration with motors, batteries, and other electric drive units,” the Japanese automakers said.

By working together, they believe they can get these next-generation engines onto the market faster.

“Each company wants to win, but we can be faster if we work together,” Sato said.

Bidenmobiles are a dead end, so some of the biggest names in the Japanese are going to try something different.

Toyota was the leader in hybrid technology when it created the Prius in the 2000s.

Now, the Japanese automaker could revolutionize the auto industry again and put Bidenmobiles in the ash heap of history.