Toyota Plans To Double Hybrid Production
Japanese automaker announced plans to double their hybrid automobile production in 2006 according a new Japanese newspaper Asahi Shimbun. This plan will take their production levels to 500,000 cars a year.
This is good news for the U.S. as 50,000 of these will be Camrys, produced at the Toyota factory in Georgetown, Kentucky. Toyota also plans to produce their Prius line in Changchun, China.
Toyota has a number of hybrids planned for the future. They have Lexus luxury hybrids planned as well as their SUV hybrid called the Harrier, due out in 3 or 4 months. Toyota’s plans production of their hybrid Harriers and Klugers to hit about 12,000 a month at factories in Japan.
According to the Shimbun, Toyota sold 135,000 hybrids in 2004. Honda sold about 28,000. Ford also started hybrid sales in 2004. Toyota has been in the hybrid business since 1997 with their Prius and Honda picked up the Insight in 1999. Most companies have yet to enter the hybrid market.
Hybrid sales are expected to increase dramatically as oil prices continue to climb having peaked last week at nearly $61 a barrel and most analysts expect the price to climb.
John Stith is a staff writer for WebProNews covering technology and business.