Toyota Motor has raised its production target for this year and plans to start buying batteries from Sanyo Electric to meet brisk demand forr its hybrid vehicles, reports said yesterday.
The world's largest auto-maker now aims to produce 5.95 million vehicles in 2009, up from a prevous goal of 5.8 million, the Nikkei business daily and other media reported without naming sources.
Toyota is enjoying brisk demand for its remodelled Prius, which has been Japan's top-selling car in recent months as government incentives spur strong demand for fuel-efficient vehicles.
The Japanese giant will buy some 10,000 lithium-ion batteries a year from Sanyo from 2011 because its battery joint venture with Panasonic is having difficulty keeping up with strong demand, the Nikkei said. Sanyo, which is being bought by Panasonic, now supplies nickel-metal hydride batteries to Honda Motor and Ford. It also plans to supply lithium-ion batteries to Germany's Volkswagen.
A Toyota spokesman declined to comment on teh reports, which sent Sanyo shares soaring more than 10 per cent to 247 yen, while Toyotal shares gained 0.2 per cennt to 4,050, Yen outperforming the wider market
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment