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Toyota To Break Free Of Supplier Issues And Produce Their Own Hybrid Batteries In North America
Toyota Motor Corp will build batteries for its hybrids in North America eventually, as part of a plan to drive down the production costs of fuel-efficient models like its top-selling Prius.As part of that strategy, Toyota expects that its next-generation Prius will have a profit margin close to that of a traditional sedan like the Corolla, a senior executive said on Friday.Toyota, like other major automakers, does not typically detail vehicle-by-vehicle profitability. But the high cost of developing new hybrid systems and batteries has widely been seen as a constraint on the initial profitability of such models.U.S. automaker General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz) has said it expects to lose money initially by selling its all-electric Chevy Volt, due to the high cost of battery packs.