Wednesday, automotive major Toyota Motor Corp. (TM) announced taking a number of initiatives to achieve a low carbon society, including accelerating production of hybrid vehicles and developing vehicles that reduce emission of carbon dioxide.
Soaring fuel prices have automakers racing to develop fuel-efficient vehicles or alternative fuels. The hybrid vehicle uses two or more power sources, driving greater fuel efficiency. Toyota intends to use hybrid technology as a core means to reduce oil consumption through energy diversification.
Toyota is working to imbibe the hybrid technology to create various models and increase the technology's popularity. The company noted that according to its calculations, Toyota's hybrid vehicle Prius reached 1 million units this past April, with overall use of these vehicles emitting about 7 million fewer tons of CO2 and reducing gasoline consumption by about 2.7 million kiloliters. The company aims to achieve sales of 1 million hybrid vehicles annually, as early in the 2010s as possible.
Recently, the automaker had announced its intention to manufacture hybrid vehicles in Thailand and Australia. The Australian government has said it would provide a subsidy of A$35 million for the operation.
Toyota Motor stated it would introduce a plug-in hybrid vehicle equipped with a lithium-ion battery by 2010. The electric vehicle is currently undergoing various verification tests in Japan. The promising plug-in hybrid vehicle can potentially be used as electric vehicles for short trips and as conventional hybrid vehicles for traveling longer distances.
The company will install a battery research department to invent a next-generation battery that can out-perform the lithium-ion battery. The joint venture of Toyota Motor and the Matsushita Group, Panasonic EV Energy Co., Ltd., will begin limited production of lithium-ion batteries in 2009, moving into full-scale production in 2010.
The company is conducting research on alternative fuel, developing the TOYOTA Fuel Cell Hybrid Vehicle or FCHV-adv. The working of a fuel cell is that it converts hydrogen and oxygen into water, and in the process generates electricity.
Additionally, Toyota stated that it was taking steps to decrease carbon by strategically implementing "sustainable plant" activities, recycling wastewater, and planting numerous trees as part of its plant "greening" activities.
TM closed Tuesday's regular trading session at $101.59, down $1.00 and in the after hours trading dipped further by 9 cents.
For comments and feedback contact: editorial@rttnews.com
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.