Toyota Motor Corp, the world's largest automaker by market value, plans to double the number of models that use hybrid engines to six by about 2006, including sport-utility vehicles, president Fujio Cho said.
Toyota, which has sold 140,000 cars with engines driven by a combination of gas and electricity since 1997, plans to release a larger, faster and cleaner version of the Prius hatchback later this year.
"We will release hybrid sport-utility vehicles in the next two to three years," Cho said in a television interview at Toyota's fifth environmental forum in Tokyo.
The maker of the Harrier/RX330 sport-utility needs to expand its model range and cut prices to attract more customers in the US$2.5 billion hybrid vehicle market, which Credit Suisse First Boston Japan Inc expects to triple by 2006.
The Prius now costs about US$3,000 more than a gasoline-engine car.
"To make their green cars successful there are two main objectives, which are meeting emission regulations and offering lower prices," said Masayuki Kubota, who helps manage the equivalent of US$8.5 billion at Daiwa SB Investments Ltd.
Once they are met, sales of hybrids will surge," Kubota said.
Toyota, which wants to raise its global share to 15 percent early next decade from 10 percent in part by offering customers more hybrid models, was the first automaker to release autos with gasoline-electric engines for commercial sale, starting with the Prius in 1997.
The new Prius is expected to go about 4.41L/100km for average city and highway driving, an increase from 5.06L/100km in the current version.
Toyota's release of gasoline-electric sport-utilities may give it a promotional edge over rivals in a vehicle class that's drawn criticism from environmentalists for wasting energy.
The world's third-largest automaker by sales will continue to increase profits from hybrid cars, Cho said, without providing detail. He said the automaker is ready to start installing hybrid systems in other models.
"We now have three hybrid models and in the next two to three years, we will probably have about double that," Cho said.
Toyota probably needs to sell at least 300,000 units a year to make its hybrid project profita-ble, according to Koji Endo, an analyst at Credit Suisse First Boston Japan Inc. "It will help Toyota if it offers a wider range of models to be able to supply a variety of customers."
He estimates the owner of a mid-sized hybrid, driving about 3,000km in the city and highway a year, may save about Japanese Yen 3.5 million yen (US$29,746) in a four-year period.
Toyota sells three hybrids including the Prius sedan, Estima minivan and Crown luxury car. Its gasoline-electric system emits as much as 40 percent less carbon dioxide than traditional internal-combustion engines.
RETHINK? The defense ministry and Navy Command Headquarters could take over the indigenous submarine project and change its production timeline, a source said Admiral Huang Shu-kuang’s (黃曙光) resignation as head of the Indigenous Submarine Program and as a member of the National Security Council could affect the production of submarines, a source said yesterday. Huang in a statement last night said he had decided to resign due to national security concerns while expressing the hope that it would put a stop to political wrangling that only undermines the advancement of the nation’s defense capabilities. Taiwan People’s Party Legislator Vivian Huang (黃珊珊) yesterday said that the admiral, her older brother, felt it was time for him to step down and that he had completed what he
Taiwan has experienced its most significant improvement in the QS World University Rankings by Subject, data provided on Sunday by international higher education analyst Quacquarelli Symonds (QS) showed. Compared with last year’s edition of the rankings, which measure academic excellence and influence, Taiwanese universities made great improvements in the H Index metric, which evaluates research productivity and its impact, with a notable 30 percent increase overall, QS said. Taiwanese universities also made notable progress in the Citations per Paper metric, which measures the impact of research, achieving a 13 percent increase. Taiwanese universities gained 10 percent in Academic Reputation, but declined 18 percent
CHINA REACTS: The patrol and reconnaissance plane ‘transited the Taiwan Strait in international airspace,’ the 7th Fleet said, while Taipei said it saw nothing unusual The US 7th Fleet yesterday said that a US Navy P-8A Poseidon flew through the Taiwan Strait, a day after US and Chinese defense heads held their first talks since November 2022 in an effort to reduce regional tensions. The patrol and reconnaissance plane “transited the Taiwan Strait in international airspace,” the 7th Fleet said in a news release. “By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations.” In a separate statement, the Ministry of National Defense said that it monitored nearby waters and airspace as the aircraft
UNDER DISCUSSION: The combatant command would integrate fast attack boat and anti-ship missile groups to defend waters closest to the coastline, a source said The military could establish a new combatant command as early as 2026, which would be tasked with defending Taiwan’s territorial waters 24 nautical miles (44.4km) from the nation’s coastline, a source familiar with the matter said yesterday. The new command, which would fall under the Naval Command Headquarters, would be led by a vice admiral and integrate existing fast attack boat and anti-ship missile groups, along with the Naval Maritime Surveillance and Reconnaissance Command, said the source, who asked to remain anonymous. It could be launched by 2026, but details are being discussed and no final timetable has been announced, the source