Toyota, Nissan Pursue Different Electric-drive Strategies

While Toyota plans to develop an electric car, its primary focus is on hybrids. Nissan and its alliance partner Renault will launch 3 electric cars each.

Published: 24-Jun-2009

YOKOHAMA/TOYOTA CITY -- Toyota Motor Corp (7203.T) and Nissan Motor Co (7201.T) promised shareholders they would do better to recover from the worst industry downturn in a generation, each focusing on different types of cleaner cars to steer their revival.

Japan's No.1 and No.3 carmakers both face a second straight year of losses in the financial year to March 2010, reeling from a sharp sales slide in all major developed markets.

The industry slump, fueled by tight credit and rising jobless numbers, has already helped drive U.S. rivals General Motors (GMGMQ.PK) and Chrysler into bankruptcy, and both Japanese automakers said they saw no near-term relief.

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