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PHOTO CAPTION: Toyota IQ will be basis of all-electric

Toyota Plans IQ Electric Car Debut in 2012

Company acknowledges that it needs to respond to growing national competition.

Published: 12-Nov-2010

Toyota Motor Company plans to market a new electric vehicle based on its IQ Ultra-compact car in 2012 in Japan, roughly coinciding with its release in the United States, informed sources said.

With Japan's top carmaker venturing into the EV market, competition is expected to intensify among major carmakers, with Mitsubishi Motors Corporation and Fuji Heavy Industries Limited already selling such eco-friendly cars, while Nissan Motor Co. Is due to release its model in December, it said yesterday.

Toyota's planned EV will be fitted with a proprietary battery and likely run over a shorter distance than regular gasoline-powered cars. To add cars with longer ranges to its eco-friendly vehicle offerings, the company also aims to begin selling plug-in hybrids in 2012, according to the sources.
Toyota is now developing an EV modeled on its RAV4 compact sport utility vehicle for sale in the United States in cooperation with US EV maker Tesla Motors.

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