April 3, 2006
Toyota plans hybrids for all vehicle classes by 2012
Toyota City, Japan – Toyota Motor is planning to offer gasoline-electric hybrid versions of all its vehicle classes, as reported by the Green Car Congress, to help meet its target of quadrupling annual worldwide hybrid sales to 1 million vehicles by 2012. This will be 10 per cent of Toyota’s total annual new vehicle sales.
Toyota will replace platforms to provide hybrid drive compatibility as the models are redesigned; the company plans a hybrid version of its Japanese-market Crown luxury sedan in 2008 and its Vitz subcompact by 2010; a version of the Vitz is sold in North America as the Yaris.
Toyota is also working on reducing the production costs for hybrids, and is aiming for a 30 per cent reduction through battery improvements and part size reduction. While hybrids now cost about 500,000 Yen more than gasoline-powered versions, the new system is expected to reduce the difference to less than 300,000 Yen.