Toyota unveils 20% more compact ICE for gas and diesel hybrids with investment 'magnitudes smaller' than for electric cars
Toyota's Koji Sato took the stage together with the CEOs of Mazda and Subaru to announce a new generation of its vaunted hybrid car engines that is up to 20% smaller.
The new hybrid powertrains can be mounted directly on its existing platforms for diesel and gas-powered vehicles, and offer increased power output when working in tandem with batteries.
The move is in line with Toyota's strategy of only offering electric vehicles where there is charging infrastructure and purchasing power, but bet on powertrain diversity in its global portfolio.
The diversification strategy is now paying off as early EV adopters already got their cars and demand softened, while sales of hybrids are booming and Toyota just announced its highest ever quarterly profit.
The record profit numbers of Toyota also stem from the fact that it is currently spending a fraction of what other manufacturers do for the green transportation transition as it bets on the tried and true hybrid car technology while investing in EVs as well.
Toyota didn't disclose what the new compact engines for its hybrid vehicles cost to develop, but it claims that the investment is "magnitudes smaller" compared to what other automakers are spending on EVs, often at a great loss per vehicle.
"In an era when the development of battery electric vehicle technology is accelerating, there is a new role we can pursue for the internal combustion engine as well," announced Mr. Sato, as the new engines were developed to also run on alternative carbon-neutral fuels to help Toyota meet environmental requirements.
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