Toyota Considers Hybrid Car Battery Production Ramp-Up
TOKYO (MarketWatch) -- Toyota Motor Corp. (7203.TO) said Tuesday it is considering ramping up capacity at its battery production joint venture to help meet its ambitious goal of selling 1 million gasoline-electric hybrid vehicles globally as early as 2010.
But no specific plans have been decided yet, said a spokesman for the top
hybrid car seller worldwide.
Toyota owns a 60% stake in the Panasonic EV Energy Co. joint venture with Matsushita Electric Industrial Co. (6752.TO) holding the remainder.
For 2007, Japan's top auto maker aims to boost its hybrid sales 38% to
430,000 hybrid vehicles globally.
The Nikkei reported Sunday the automaker plans to build a new factory on the site of Panasonic EV Energy, aiming to raise its annual production capacity for nickel-hydrogen cells used in the automaker's hybrid vehicles by 50% starting next spring.
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