Toyota is to build a hybrid
petrol-electric version of its Camry saloon at its factory in Kentucky,
US in 2006.
The new came as the Japanese carmaker tries to satisfy booming demand
for the fuel-efficient vehicles. The Camry will be the first Toyota
hybrid assembled in the US, although the electric unit is said to
be imported from Japan.
The company will invest $10m in Kentucky for production planned
for 48,000 Camry hybrids a year. Local production of the electric
power unit is being considered.
The hybrid version of the Camry, which is the best-selling car in
the US, is likely to add to pressure on rival manufacturers to speed
up development of their models. Only Japanese rival, Honda and America's
Ford compete for hybrid sales, although Toyota is still the leader
with 34,225 Prius sold by the end of April alone.
In a recent statement, the global giant carmaker said: "We
are still selling them as fast as we can make them." Its luxury
brand, Lexus, sold 2,345 of the 400h hybrid offroader in its first
two weeks after launching last month.
The popularity of hybrid-electric powered cars has been fuelled
not only by the success of the second-generation Prius, launched
18 months ago, but also by the recent sharp increase in oil and
petrol prices. Toyota forecasts Prius sales of 100,000 this year
but is well ahead of its target.
At the same time US consumers have turned away from the biggest
gas-guzzlers, hurting the two US giants, General Motors and Ford,
both of which relied on their arge sport utility vehicles for profits.
Nissan, which has licensed Toyota's hybrid technology, has warned
that its planned Altima hybrid will be loss making. The Renault
alliance partner plans to start making the car next year and will
be able to build up to 50,000 units - although Carlos Ghosn, chief
executive, said in January he had little idea how much demand there
would be.
GM, DaimlerChrysler and BMW have teamed up to develop their own
hybrid system, with the first vehicles planned to be launched in
2007.
|
