Toyota has announced that it plans to sell one million hybrid vehicles annually by the early 2010s, a goal that will be aided by new plug-in hybrid models. The Japanese automaker will soon begin testing its new plug-in hybrid technology in Japan, Europe and the United States.
“We are making steady progress toward commercialization of this vehicle,†Toyota President Katsuaki Watanabe told Automotive News. The new vehicles will use lithium-ion battery co-developed with Panasonic EV Energy Co. Mass production of the batteries are scheduled to start soon, but the companies failed to give an exact date.
Since the launch of the Prius in 1997, Toyota has sold 1.25 million hybrid vehicles. The plan to reach one million hybrid vehicle sales per years includes new hybrid-only models, as well as hybrid versions of every Toyota model by 2020.
Honda recently announced that it will ramp up hybrid production — including a new hybrid-only model — but will not be using plug-in technology.
