Lots of people saying Toyota missed the boat on EVs. I'm not convinced the technology, infrastructure or battery supply is ready for true mass production of EVs. Toyota makes 10 million cars a year, they'll be selling good EVs soon enough to put Tesla to shame.
In the 1970s the US was really good at making fairly luxurious barges but then suddenly the consumers wanted smaller cars. The US automakers already made compacts and small cars but they were value-engineered to within an inch of their lives for people who couldn't afford better. Japanese automakers absolutely killed because they already made "nice cars for nice people" in the form factors people wanted. The US had plenty of nicer cars in production at the time but they weren't form factors anybody wanted. So when you look at the average car that actually got bought and put on the roads the Japanese cars were nicer all around (and priced accordingly). The reputations took off from there and the US automakers got left holding the bag of low end customers and the Japanese carmakers got the high end customers further cementing their place in the midsize and compact car market. Minivans and then SUV becoming the "new hotness" for those buyer demographics and some by all accounts spectacular midsize car platforms of the 80s and 90s (Taurus, Escort, W-body (e.g. Lumina), Neon) still didn't unseat the Japanese car-makers dominance of the higher priced and higher end portions of the midsize and compact car market.
I would not bet against something similar happening to Toyota (and a couple other brands) with the transition to EVs. The big three look poised to capture the pickup and large SUV market. The Koreans look pretty well positioned in the crossover and hatchback segments. Tesla is king of high end sedans right now. I think there's room for another player in the crossover market and some room in the midsize SUV market (Honda Pilot, Ford Explorer type stuff) and there's probably room in the sedan market for a boring non-flashy EV (something Toyota already has a reputation for in the ICE segment). Will Toyota develop an EV or several that's a big enough winner to cement their place beside the current players in those segments? If I knew the answer to that question I'd be buying stocks.