Toyota Motor Corp. Chairman Akio Toyoda believes battery electric vehicles will reach at most 30% market share, with the rest taken up by hybrids, hydrogen fuel cell and fuel-burning cars.

With a billion people in the world living without electricity, limiting their choices and ability to travel by making expensive cars isn’t the answer, the grandson of the company’s founder said during a business event this month, according to remarks published on the company’s media platform Tuesday. “Customers — not regulations or politics — should make that decision,” he said.