has any chance of meeting its stated goal of selling a million
per year within the next decade, it's going to need lots and lots of
. Along with its partner, Matsushita, Toyota already has plants in operation to build the necessary nickel metal hydride
packs, and one of those plants will be enlarged in order to meet capacity requirements. Two additional plants will also be built in
, 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.
market is going to be challenged as fuel prices continue to rise. Recently, along with its partner
that it was building a new plant to build advanced lithium ion packs for
and hybrids. Additionally,
to releasing its new Volt, which many believe is
superior in design
over Toyota's Hybrid Synergy Drive.