Plug-in hybrid fans rejoice -- the number one brand in hybrids -- Toyota -- says it is building a plug-in hybrid.
PreviouslyToyota executives had feigned interest in plug-ins hybrids, claiming that battery technology wasn't sufficient, but Toyota North America President Jim Press told the National Press Club (wow, he has his own club!) that plug-in hybrids and flex fuel vehicles were on the company's radar.
No timetable was given, but I'm betting we'll see some plug-in concept vehicles from the big guys come January in Detroit. Toyota joins a number of smaller companies and consortiums pushing for plug-in hybrids, which unlike current hybrids can be recharged by connecting the vehicles to an electrical outlet.
Press added that the company wants to cut the price of hybrid components by half. A $1,500 premium for hybrid fuel economy becomes a much easier sell than today's longer fuel saving payback.
Found via MarketWatch
