Toyota Will Introduce 21 Hybrids by 2015 image

Toyota plans to introduce 21 new hybrid vehicles in the following three years, in a plan to boost its green vehicle lineup.

The automaker announced on Monday, September 24th, it plans to boost its green vehicle lineup due to increasing concerns about surging gas prices and global warming. By the end of this year Toyota will introduce in the US and Japan its electric compact called eQ, which will be based on the iQ model. The automaker will offer only 100 eQ units in December, as the fuel cell vehicle, running on hydrogen, will be offered from2015.

“We plan to launch 21 new or full-model-change hybrids by the end of 2015. Profits from conventional (gasoline) powered costs are still higher, so we need to reduce hybrid cars more in order to promote their diffusion,” said Takeshi Uchiyamada, Toyota’s vice chairman and R&D head.

Toyota plans to sell at least 1 million hybrids annually between 2013 and 2015, but it is aware that it must cut costs to increase profitability and boost sales. The automaker also hopes to localize production of several hybrid models in the States.

Panasonic announced it will be the one offering the lithium-ion batteries for Toyota’s eQ model, a company which has a reach portfolio when it comes to batteries for eco-friendly vehicles.