Toyota Motor Corporation is now going after electronic vehicle
Japanese auto-giant, Toyota Motor Corporation (TYO: 7203) is going for all electric cars. The company, that championed hybrid vehicle, is now going after electric vehicle which is the latest craze in the auto industry. The rising price of fuel, coupled with economic slowdown and increasing environmental awareness, have created a large demand for low cost fuel efficient vehicles in USA, the largest market of Toyota.
The new small electric car will be powered up by conventional lithium-ion batteries. Used to cover short distances in city areas, the company is now aiming toward mass production of electronic vehicles by 2010.
Aside from introducing electronic vehicles, the company is also going to showcase two new hybrid models in the January International Auto Show. The company also announced to sale a new Lexus hybrid.
From today, Toyota has started leasing its news FCHV-adv, a new Fuel Cell Hybrid Vehicle, which is a “highlander SUV/cross over,” to Japanese Ministry of the Environment.
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