Toyota executive warns of "electrified armageddon" for auto industry

What's happening: GM and Korea's LG Chem are forming a $2.3 billion joint venture to build one of the world's largest battery cell factories in Ohio, creating 1,100 new jobs.

• The plant's massive scale, along with the partners' ongoing chemistry research, will help lower the cost of batteries and finally make EVs affordable, GM says.
• But Toyota thinks there's still not enough demand for EVs, and it remains primarily focused on hybrids like its hot-selling Rav4 hybrid.

What they're saying:

• GM CEO Mary Barra: "GM believes in the science of global warming. We believe in an all-electric future. It’s not a question of if, but when."
• Toyota EVP Bob Carter: "Somebody's got to buy these things. I've been saying we're going to see electrified armageddon. Because of the cost premium, supply is going to get ahead of true customer demand."

Go deeper:

• How the world's cities will drive electric vehicle adoption
• The bumpy transition toward electric vehicles