Toyota recently announced their plans of a joint venture with a local Chinese battery manufacturer to cater to China’s electric-gasoline hybrid car market.
Toyota’s spokesman Takanori Yokoi said in a press interview that the multinational automobile company is in discussions with Hunan Corun New Energy Corporation, based in the southern province of Hunan, to collaborate on the production of nickel-metal hydride batteries for Toyota hybrid models. These hybrid cars are set to be released in China around 2015.
In addition to the hybrid batteries, Yokoi also added that Toyota is going to launch two affordable hybrid models in 2015. One model will be marketed by Toyota’s venture with Guangzhou Automobile Group while the other will be marketed with Toyota’s venture with the FAW Group.
This is Toyota’s venture into kick-starting the sales of conventional hybrid cars in China, as many other vehicle manufacturers are attempting to do. This is in preparation of the changes that the Chinese government will implement in terms of their industry policies, which aim to nurture the demand for more energy-sustainable cars, including conventional hybrids. The current policy provides subsidies for those private purchases of electric battery vehicles as well as electric hybrid plug-ins, but only provides limited support for the conventional hybrid models.
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