The Japanese auto maker also has a plan to sell one million hybrid vehicles (Prius, Camry, Highlander, etc.) a year.
Toyota has now announced their plans to introduce six new hybrid vehicles by 2012. The company has yet to revealed much in the way of details, apart from their plan to have three of those models only as hybrids, and the other three as hybrid versions of models that are already on the market, which are currently running as gasoline powered variants.
Sources at the company have revealed that the Prius Plug-In Hybrid will be priced at $3,000 to $5,000 more than its standard Prius. "This would set the base price at $25,800 - $27,800, which would still be far more affordable than the Chevy Volt - priced at $41,000."
Sources also state a mid-2012 launch is anticipated for US markets and that annual sales are expected to total 20,000 units. Sources commented on the RAV4 EV, which is being developed in association with Tesla Motors.
They said research and development on the vehicle has already started at the company's technical center in Michigan. The RAV4 EV will be introduced during the 2010 Los Angeles Auto Show. Afterwards, Toyota hopes to have it go on sale in 2012.
For all the latest in Toyota hybrid news, or to test drive a hybrid variant, head on over to Motorcars Toyota - 2950 Mayfield Rd., Cleveland Heights, OH 44118.