Toyota Adding Ethanol-Fueled Cars in U.S. by 2008 (Update1)
2006-04-19 00:14 (New York)
(Adds details on Toyota's spending in fifth paragraph.)
By Alan Ohnsman and Kae Inoue
April 19 (Bloomberg) -- Toyota Motor Corp. plans to offer a
U.S. vehicle by 2008 that can run on a mix of ethanol and
gasoline, amid growing interest in so-called bio-fuels, the
Financial Times reported, citing an unnamed company executive.
Toyota, the largest seller of autos powered by a
combination of gasoline and electricity, wants to offer models
that can run on E85, a fuel that's 85 percent ethanol and 15
percent gasoline, to move into a segment currently dominated by
General Motors Corp. and Ford Motor Co., the report said.
Toyota wants to introduce a broader range of alternative
fuel vehicles than only hybrids, the report said. ``We will not
be outflanked,'' the newspaper said, citing the unnamed official.
Cindy Knight, a spokeswoman for Toyota's U.S. sales unit in
Torrance, California, told Bloomberg the company has studied
offering ethanol models. She couldn't confirm when or whether
such vehicles would be sold in the U.S.
Toyota President Katsuaki Watanabe spent a record 800
billion yen ($6.8 billion), up 5.9 percent, on research in the
year ended March 31. The automaker is developing technologies
for a range of alternative fuels, including ethanol, natural gas
and hydrogen. It ``wants to be ready when the market is ready,''
Watanabe said on March 16.
Toyota already sells vehicles that can run on ethanol in
Brazil, and converting a U.S. model to use the fuel isn't a
technical challenge, Knight said in an interview.
GM and Ford are also expanding the number of vehicles they
sell in the U.S. capable of running on E85. GM estimates there
are currently 4 million vehicles in the U.S. that can run on the
ethanol-based fuel.
Toyota shares, which have gained 73 percent in the payota Adding Ethanol-Fueled Cars in U.S. by 2008 (Update1)
2006-04-19 00:14 (New York)
(Adds details on Toyota's spending in fifth paragraph.)
By Alan Ohnsman and Kae Inoue
April 19 (Bloomberg) -- Toyota Motor Corp. plans to offer a
U.S. vehicle by 2008 that can run on a mix of ethanol and
gasoline, amid growing interest in so-called bio-fuels, the
Financial Times reported, citing an unnamed company executive.
Toyota, the largest seller of autos powered by a
combination of gasoline and electricity, wants to offer models
that can run on E85, a fuel that's 85 percent ethanol and 15
percent gasoline, to move into a segment currently dominated by
General Motors Corp. and Ford Motor Co., the report said.
Toyota wants to introduce a broader range of alternative
fuel vehicles than only hybrids, the report said. ``We will not
be outflanked,'' the newspaper said, citing the unnamed official.
Cindy Knight, a spokeswoman for Toyota's U.S. sales unit in
Torrance, California, told Bloomberg the company has studied
offering ethanol models. She couldn't confirm when or whether
such vehicles would be sold in the U.S.
Toyota President Katsuaki Watanabe spent a record 800
billion yen ($6.8 billion), up 5.9 percent, on research in the
year ended March 31. The automaker is developing technologies
for a range of alternative fuels, including ethanol, natural gas
and hydrogen. It ``wants to be ready when the market is ready,''
Watanabe said on March 16.
Toyota already sells vehicles that can run on ethanol in
Brazil, and converting a U.S. model to use the fuel isn't a
technical challenge, Knight said in an interview.
GM and Ford are also expanding the number of vehicles they
sell in the U.S. capable of running on E85. GM estimates there
are currently 4 million vehicles in the U.S. that can run on the
ethanol-based fuel.
Toyota shares, which have gained 73 percent in the past 12
months, rose as much as 0.8 percent to 6,730 yen in Tokyo.
