Market Chatter: Toyota Motor Aims to Increase Global Hybrid Production by 30% by 2028

MT Newswires Live02-05 00:54

Toyota Motor (TM) plans to make 30% more hybrid vehicles in 2028 over current production levels and expand their manufacture significantly in the US, Nikkei Asia reported Wednesday.

The automaker expects to produce 6.7 million hybrid vehicles globally in two years' time, up from 5 million units planned for 2026, according to suppliers familiar with Toyota's plans, the report said.

Additionally, Toyota will expand its hybrid vehicles production in the US, as hybrid versions of models like the Camry sedan and the Tacoma pickup continue to sell well, Nikkei Asia said.

Toyota Motor did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 241.76, Change: +10.34, Percent Change: +4.47

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