My prediction is that: Toyota, GM, and the rest of Big Auto are either
1) Planning to milk the market for as long as they can, or,
2) Not really planning anything, just going along while they can still sell their obsolete product
I view the manufacturers of mainstream ICE autos in a place like the Sugar Industry is now, or where the Tobacco Industry was in the 1950s. Tobacco manufacturers sold their product as long as they could. The Sugar Industry is in that position today. Selling a toxin while they can. But like tobacco, they will soon no longer have the market they have had (See Gary Taubes's The Case Against Sugar, 2017, or his Why Wet Get Fat, 2012).
Musk's vision is the future of personal transportation. I don't think the ICE makers can do anything to stop where he is taking the auto industry. I don't think they have a vision.
I am indebted to this line of thought to Fast Girl, who wrote: "Those other auto makers aren't just going to sit around and watch Tesla take away their business. ;-)" and to carlk, who wrote "Their plan is simple. Get next quarter's number. Then the quarter after that and the next ... until the day to retire with a nice package. They will not take any risks to fxxk up that nice plan."