Toyota will do just fine with
Toyota will do just fine with outstanding hybrids and PHEVs as it slowly enters the EV space, perhaps with most of its EVs emerging from its partnership with BYD.
It doesn't matter if it takes until 2030 or later for Toyota to get up to speed on EVs. If Toyota can mass-produce its solid-state battery at reasonable cost, that should draw a lot of attention. Solid-state will probably go from hybrids and FCEVs to PHEVs to EVs as production ramps up and costs decline.
The Hyundai/Kia story is a perfect example of why it doesn't matter if you come late to the auto manufacturing party. Both companies started out making cheap junk, Kia almost folded. Hyundai saved Kia and together they started making better cars at bargain prices. They slowly surpassed most legacy makers in quality and sales, and now look at them.
So don't let the 'experts' tell you Toyota can't become a major EV player before 2035 because Mr Toyoda decided to concentrate more on hybrids and PHEVs for the rest of the decade. There will be a Li-ion battery shortage and that will impact EVs much more than hybrids and PHEVs. Toyota may actually end up benefiting the most as more people flock to less expensive electrified vehicles.