Toyota wants more electric-drive vehicles in order to dominate the segment

Article by Christian A., on October 14, 2010

As part of a strategy to dominate the green-car market, Toyota Motor Corp. announced recently that it will add more electric-drive vehicles to its lineup. At an annual dealership conference in Las Vegas, President Akio Toyoda said that the company will expand its lineup to include more hybrids, plug-in hybrids, battery-electric cars and fuel cell vehicles in order to lead in this area.

In a statement, Toyoda and other company executives said that Toyota is back on track to growth, which is "driven by high quality and fun-to-drive new products and a recovering economy.”

To regain market share, Toyota is adding more products and service incentives. Among the top eight automakers, Toyota posted the lowest increase in US sales from January to September of this year. Toyota’s US sales increased by 1.1% to 1.3 million units in the first nine months of 2010, compared with a 21% rise for Ford Motor Co. and 20% for Hyundai Motor Co.

Toyota is currently embroiled in a controversy wherein the company is proceeding with plans to build a new assembly plant in Mississippi while also finding a way to unload a plant in Fremont, Calif., where there are serious issues with the union workforce.

However, Toyoda didn’t address this issue directly. He said that the company is “more committed than ever to North America” and that it will continue to boost its North America operations by investing over one billion dollars on the new plant in Mississippi to increase Corolla production. [via GreenCarAdvisor]

Topics: toyota, electric car

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