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Latest Business News

Toyota Scrambling to Produce Hybrids

Friday, October 21, 2005 4:10:17 AM
By YURI KAGEYAMA

Toyota Prius hybrid compact car is exhibited at the Tokyo Motor Show in Makuhari, east of Tokyo, Wednesday, Oct. 19, 2005. Nearly a decade ago when Toyota Motor Corp. first showed its hybrid vehicle, the industry was still filled with skeptics about the ecological technology that switches between a gasoline engine and an electric motor to dramatically boost mileage. Now, the waiting list for Prius in the United States is growing, up to three or four months, according to Toyota. (AP Photo/Shizuo Kambayashi)TOKYO (AP) - When Toyota unveiled its first hybrid vehicle nearly a decade ago, many people were skeptical about its environmentally friendly gas-and-electric-powered engine that dramatically boosts mileage.

Today, Japan's biggest automaker is scrambling to keep up with the growing demand for hybrids, especially in North America, where soaring oil prices — now double from several years ago — are suddenly making hybrids an attractive cost-saving alternative.

All the world's major automakers, including Ford Motor Co. of the United States and Japanese rival Honda Motor Co., are either selling or developing their versions of hybrids these days.


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