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Toyota Plans More Hybrids by 2006

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Japans Number One Automaker Chooses Hybrids to Keep Its Market Edge

Toyota Motor Corp., the worlds largest automaker by market value, plans to double the number of models that use hybrid engines to six by about 2006, including sport-utility vehicles, President Fujio Cho said.

Starting with the 1997 introduction of the Prius in Japan, Toyota has sold 140,000 cars with engines driven by a combination of gas and electricity. Toyota is also rolling out a larger, faster and cleaner version of the Prius hatchback later this year. But this is just the beginning.

"We will release hybrid sport-utility vehicles in the next two to three years," said Toyota President Fujio Cho. (Photo: Toyota)

The hybrid vehicle market is worth approximately $2.5 billion, and expected to triple by 2006. In order to meet the demands of

In order to meet the demands of the growing hybrid vehicle market it is necessary for makers to diversify their offerings from the standard compact car. (Photo: Toyota)

"To make their green cars successful there are two main objectives, which are meeting emission regulations and offering lower prices," said Masayuki Kubota, who helps manage the equivalent of $8.5 billion at Daiwa SB Investments Ltd. Once they are met, sales of hybrids will surge.

Toyota, which wants to raise its global share to 15

The class of vehicle that has drawn the most criticism from environmentalists will soon see its own hybrid addition in the form of the Lexus Hybrid RX. (Photo: Toyota)

Japanese drivers have three hybrid models to choose from and can expect to see double that in the next two to three years. American drivers will soon see the release of a hybrid sport utility, the very vehicle class thats drawn criticism from environmentalists for wasting energy, giving Toyota the promotional edge over its rivals.

Many companies are either working with or using Toyotas technology, including Nissan, Renault, Reugeot and General Motors. (Photo: PSA Peugeot Citroen)