The world’s number 1 selling car maker and the pioneer of advanced hybrid cars, Toyota Motor Corporation is about to make a massive investment on the hybrid technology in order to advance further in this technology.
Toyota is expected to be investing a whopping amount of $7 billion on the research and development of the hybrid technology, as the Japanese car major wishes to achieve higher milestones in the field after the major success of its Prius gasoline electric hybrid vehicle.
Ever since the company development and launched the first Prius hybrid model back in the year 1997, Toyota has been constantly working to improve on the technology. The car maker had the hybrid technology as one of its main focus in order to development even batter green and nature-friendly cars.
The company has been also increasingly working to pump up the production of the core components of the green cars like motors, batteries, inverters As well as ECUs (electronic control units). Toyota has been constantly endeavoring to reduce the cost of the hybrid car and make them more acceptable and affordable for the general car consumers. As a result over the generations, the Toyota Prius hybrid has not only improved on its performance and styling but its cost has also been reduced considerably.
In order to continue to strengthen its position in the global hybrid market, Toyota contemplates to spend around 790 billion yen that is equivalent to $7 billion on the research and development, and to reinforce the production of new platforms and chief component development in the financial year of 2013-14, which will account to a jump of 11 percent as compared against the last financial year.
The sales figure of the very popular Toyota Prius Hybrid has already crossed the mark of more than 3 million units in the global car markets. The sales rates of the Toyota Prius have been growing by leaps and bounds over the years, as it became immensely popular globally. The two largest markets in the world for the Toyota Prius, where most of the units get sold like hot cakes are the car market of North America and the domestic market of Japan.
Toyota also has major plans to increase the company’s capital expenditure investments by investing about $9 billion in this fiscal, out of which $4 billion would be invested in the company’s domestic car market of Japan. This fresh investment would account for an increase of 7 to 9 percent as compared to previous fiscal’s capital expenditure investments.
According to the sources, a part of Toyota’s massive investments would be invested in a 651 hectare R&D facility as well as a powertrain development and production engineering facility located at Toyota City that will be used by the Japanese car major as its new world-class powertrain development base as well as an Aerodynamics laboratory.
Toyota Motor is also investing massively on the development of the Fuel Cell technology. The company is expected to debut its Hydrogen powered sedan at this year’s Tokyo Motor Show.
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