Toyota to make parts for hybrids in China
Toyota Motor Corp. will start local production of electric motors and batteries for its hybrid vehicles sold in China, according to a Chinese media report.
Production will start in 2013, reported Beijing Times.
Local production of motors and batteries will lower the prices of Toyota's hybrids in China.
Toyota now exports the Prius hybrid to China. But due to its 260,000 yuan ($40,750) price, only one Prius was sold in China last year, according to J.D. Power.
The Japanese automaker also wants to sell a plug-in hybrid Prius in China in 2013, according to the newspaper.
In the first seven months, Toyota sold 418,862 vehicles in China, down 7 percent year-on-year.
