Toyota Plans Hybrid Parts Plant in Japan

TOKYO, March 30, 2007; Reuters reporte that Japan's Toyota Motor Corp. said on Friday it plans to build a new factory in Fukuoka, southwestern Japan, to produce components for gas-electric hybrid vehicles. Toyota, which leads the market in hybrid sales, said it plans to acquire about 340,000 square metres of land there and put production lines for hybrid parts together from other plants.

Toyota spokeswoman Yurika Motoyoshi said details, including the size of the investment and timing, are still unknown. The Nikkei daily reported this week that the company would likely invest tens of billions of yen.

Toyota aims to sell 430,000 units of hybrid vehicles worldwide in 2007, up 37 percent from last year. It has also said it aims to boost domestic production of popular Prius hybrid cars by 40 percent to 280,000 units this year.