Toyota to Utilize Hybrid Technology to Create New Revenue Source
Sunday 14/April/2019 - 11:30 AM
Toyota plans to leverage partnerships to reduce up to 50 per cent of the outlays for production of extended electric and hybrid vehicle components in China، Japan، and the United States. This follows the carmaker's announcement that it would offer access to patents for EV motors and power control units free of any charges. Toyota told Reuters that since then it has received enquiries from over 50 companies، Times Now reported.
Shigeki Terashi، Executive Vice President، Toyota، said، "Until now we have been a tier 1 automaker، but now we also intend to become a tier 2 supplier of hybrid systems." He went on to add that supplying to its contemporaries in the market would significantly augment the scale of production for components like electric motors and power control units that are used in plug-in hybrids، petrol-electric hybrids، fuel cell vehicles، and completely electric vehicles. Last week Toyota laid out its plan to provide not only carmaker but also auto suppliers with royalty-free access to roughly 24،000 electrified vehicle technologies it has patented. Terashi explained that by offering to provide competitors with parts used in Toyota's hybrid vehicles، the company sees an opportunity to cut down capital investment by about half for new plants to manufacture electric car components for future vehicles.
Toyota foresees a growth in demand for EVs across the globe as lawmakers push for new vehicles to emit significantly less carbon dioxide. It also believes that collaborating with Toyota will give other auto makers an affordable path to ensuring compliance with these new regulations.
Interestingly، Toyota already supplies the plug-in hybrid system for the Subaru Crosstrek SUV. Last month، the Japanese auto giant also announced that it is now Suzuki Motor Co.'s global supplier of hybrid systems.