Toyota gets inquiries from more than 50 companies for hybrid tech

by SpeedLux
New Toyota Camry images

The head of Toyota Motor’s electric vehicle (EV) business informed Reuters the automaker has received inquiries from over 50 companies since announcing earlier week that it would provide free access to patents for EV motors and power control units.

The executive also stated Toyota intends to utilize partnerships to cut by as much as half the outlays for expanded electric and hybrid vehicle components production in the United States, China, and Japan.

“Until now we have been a tier 1 automaker, but now we also aim to become a tier 2 supplier of hybrid systems,” Toyota Executive Vice President Shigeki Terashi stated.

Supplying competitors would greatly increase the scale of production for hardware including power control units and electric motors that are utilized in gasoline-electric hybrids, plug-in hybrids, fully electric vehicles, and fuel cell vehicles, he said.

Toyota last week outlined strategies to offer automakers and auto providers royalty-free access to almost 24,000 electrified vehicle technologies patented by the Japanese automaker.

In an interview on Thursday at Toyota’s international headquarters in Toyota City, Japan, Terashi provided new information about Toyota’s strategy and its anticipated effect on the company’s investment strategies.

By offering to provide rival automakers with parts used in Toyota’s gasoline-sipping hybrid vehicles, Toyota sees a way to cut capital outlay by roughly half for new plants required to construct electric car components for future models, Terashi stated.

“We believe that this approach will decrease investment costs significantly,” he stated.

Terashi stated Toyota projects an increase in demand for electrified vehicles worldwide as regulators insist new vehicles emit significantly less carbon dioxide, and that working with Toyota would provide others a low-cost path to compliance.

Toyota’s internal aim is to sell 5.5 million electrified, Toyota-brand vehicles yearly by 2030, up from about 1.6 million vehicles now, he stated.

Already, Terashi stated, Toyota believes it could reach the 5.5 million goal as soon as 2025. The company is collaborating on plans for a new round of capital spending to expand capacity for producing the hardware needed.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.


SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.


©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More