Toyota Motor Corporation to spend $7 billion on hybrid R&D

Since the development and launch of their first-generation Prius hybrid in 1997, Toyota has positioned hybrid technology as their core model for the development of various types of environment-friendly vehicles

Toyota Motor Corporation expects to spend $7 billion on hybrid research and development, following high sales of their gasoline-electric hybrid vehicle Prius.

Since the development and launch of their first-generation Prius hybrid in 1997, Toyota has positioned hybrid technology as their core model for the development of various types of environment-friendly vehicles and has placed emphasis on the development and production of core components such as motors, inverters, batteries, and electronic control units.

To continue to consolidate their place in the hybrid market, Toyota plans to spend 790 billion yen or $7 billion on environmental technology development, and on strengthening new platform and major component development in the fiscal year ending March 2014 – an increase of 11 percent compared to the previous’ fiscal year.

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Toyota has already sold over 3 million Prius models worldwide. Sales of the hybrid vehicle reached 123,000 in 2003, 1,192,000 vehicles in 2011, 1,688,000 in 2009, and by 2013 it has reached 3,002,000. Majority of the vehicles were sold in North America and in Japan, with 1,335,000 and 1,325,000 vehicles, respectively.

Toyota also plans to make consolidated capital expenditure investments of around $9 billion with $4 billion invested in Japan, an increase of 7 percent and 9 percent year-on-year, respectively.

Part of their investments will go to a 651 hectare-research and development facility and a Powertrain Development and Production Engineering Building in Toyota City in Aichi Prefecture which will serve as their next-generation powertrain development base and Aerodynamics Laboratory. – EcoSeed Staff

ECOticias.com – EcoSeed

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