Toyota Motor Corp. plans to double its global production of hybrid vehicles in about two years, positioning such fuel-sipping cars as a core profit earner, a report said Monday.
The automaker recently notified parts suppliers that it intends to roll out about 800,000 hybrids domestically this year, with the figure to be raised to around 900,000 in 2011 and 1.1 million in 2012, the Nikkei reported.
Last year’s output was estimated to be around 500,000, it said without citing sources.
Toyota also plans to sell an additional 10 new hybrid models from minivans, subcompacts to luxury cars within a few years, on top of its current lineups such as the Prius, Sai and Lexus HS250h, the Nikkei said.
The world’s biggest automaker now makes about 90 percent of its hybrids at home.
In 2011, hybrids will likely account for about 30 percent of all vehicles that Toyota manufactures in Japan, up from the projected figure of about 20 percent for 2009, the Nikkei said.
Toyota’s petrol-electric Prius was the best-selling car in Japan last year, becoming the first hybrid to top the annual rankings, while the sales almost tripled from the previous year.
