Toyota Aims for 1 Million Hybrids a Year by 2011

According to the Nikkei ( via Reuters), Toyota is aiming to build 1 million hybrids globally by 2011, reaching a goal they set to sell a million hybrids a year sometime in this next decade.  Reaching that point so quickly would be remarkable.

In May of 2007, Toyota sold its millionth hybrid car, globally. Hybrid car sales passed the million car mark in the US back at the end of 2007. This year, Toyota built around 500,000 hybrid cars, or about 8 percent of their total production.

"For the foreseeable future, the focus of Toyota's (low-emission car) strategy will be on hybrids, not electric or fuel-cell cars," said Yoshihiko Tabei, chief analyst at Kazaka Securities, adding the production volume reported by the Nikkei was in line with his expectations.

"Except for Honda, Toyota is facing little competition in hybrids and is set to put distance between itself and other automakers."

In order to reach 1 million, Toyota would have to expand their production in new ways, from new cars to new production plants. 

According to the Nikkei report, Toyota will be adding 10 new hybrid models over the next few years.  This after just introducing the new Sai hybrid in Japan.

They are also looking at finishing a production plant in Mississippi to build the Prius in the US.  They also recently opened a plant in Australia to build the Camry Hybrid.