In 2008, Toyota reported its first losses in decades. After years of record profits, even Toyota was affected by the downfall in the economy. According to Toyota, 2009 will likely be another year of losses for the company. But Toyota is not going to back down their funding of advanced power train technologies.
Even with high losses, Toyota remains committed to hybrid and electric vehicle funding. According to the Toyota Motor Corporation senior managing editor Takahiko Ijichi, "We will maintain a high level of R & D in areas we consider indispensable to our future-advanced, cutting-edge technologies in environment, energy, and safety."
Instead of cutting budgets, Toyota will work hard to cut the cost of the vehicle. Toyota noted that they were able to reduce costs of the new Prius by more than 30% compared to the last generation Prius. The cost cutting measures were attributed to the size and weight of the new hybrid power train in the Prius.
Toyota will invest more funding in certain areas to increase their development of next generation technologies. According to Ijichi, "Not only will Toyota keep spending on green initiatives, it intends to accelerate development of next-generation technologies in environment, energy, and safety, with environmental goals topping the list."
Toyota has many advanced technology vehicles planned for the near future with plans to introduce 10 new hybrid models by 2010 and a city EV by 2012.
Source: Edmunds Green Car Advisor