Report: Toyota aiming at 1 million hybrids annually by 2011

The Japanese Nikkei business daily is reporting that Toyota Motor Corp plans on doubling its global output of gas-electric hybrid vehicles to 1 million units in 2011. Toyota, which originally planned to sell 1 million models annually worldwide soon after 2010, has been ramping up its hybrid lineup with its the Toyota Sai and Lexus HS Hybrid, the brand’s other hybrid-only models to follow the Prius.

“For the foreseeable future, the focus of Toyota’s strategy will be on hybrids, not electric or fuel-cell cars,” said Yoshihiko Tabei, chief analyst at Kazaka Securities.

The Toyota Prius became Japan’s best-selling car in 2009, the first time a hybrid vehicle held the status.

Toyota has plans to add 10 new hybrid models to its lineup within the next few years.

– By: Kap Shah

Source: Reuters