has any chance of meeting its stated goal of selling a million hybrids
per year within the next decade, it's going to need lots and lots of batteries
. Along with its partner, Matsushita, Toyota already has plants in operation to build the necessary nickel metal hydride battery packs, and one of those plants will be enlarged in order to meet capacity requirements. Two additional plants will also be built in Japan, one of which will begin production of the newer lithium ion batteries which are likely to be installed in future Lexus hybrids
sedans. Toyota's full investment in these three battery plants is said to be roughly 20 billion yen, which is equal to 192 million dollars.
in the hybrid vehicle
market is going to be challenged as fuel prices continue to rise. Recently, along with its partner NEC
, Nissan announced
that it was building a new plant to build advanced lithium ion packs for electric vehicles
and hybrids. Additionally, General Motors
is getting closer
to releasing its new Volt, which many believe is superior in design
over Toyota's Hybrid Synergy Drive.