Toyota Motor Europe has announced plans to build a new plant in Europe that will produce transmissions used in hybrid cars.
European motorists, with their heavy orientation towards diesel engines, have traditionally been skeptical of hybrids. But the market is changing and a new generation of “plug-in” hybrids that can run on electricity or gasoline are slowly catching the attention of European buyers.
Going forward, Toyota Motor Europe expects its hybrid sales in Europe to increase from its current level of 31% of total sales to a target of 50% by 2020. For Poland, the Toyota investment is the second major investment by a global automaker this month. Mercedes-Benz also committed to building a new engine plant in Poland. (more…)