To meet demand for hybrid vehicles, Toyota is planning not one, not two, but three hybrid battery factories, one of which will produce the next-generation lithium-ion battery packs. According to Japan’s Nikkei newspaper, Toyota will spend around 70 billion ¥ ($673.1 million) on the plants with a goal to produce an annual battery output of 1 million units by 2011.
The current nickel-metal hybrid factory in Shizuoka will be expanded to accommodate some of the output.
Toyota is aiming to increase its worldwide sales of hybrids to 1 million units a year by early 2010. The industry together sold 429,000 hybrids in 2007.
Guess Nissan and Honda’s recent plans to beef up their hybrid game got Toyota shaking a little.
Source: Automotive News (Subscription Required)
[tags]Cars, Car, Auto, Automobile, Vehicles, Technology, Auto News, News, Automotive, Toyota[/tags]