Toyota is serving notice that it doesn't intend to allow other car makers to pass it by in the race to be the "greenest" auto company. The maker of the gasoline hybrid Prius said it will introduce a plug-in electric car in 2011.
Toyota will have plenty of competition. General Motors recently announced plans to produce up to 60,000 Chevy Volt plug-in hybrids a year beginning next year. Nissan also plans to introduce a plug-in next year while Ford and Volkswagen are also working on plug-in models.
Toyota said it plans to take its popular Prius and create a plug-in version of the gasoline hybrid. Instead of an engine that is powered by both gasoline and batteries, the plug-in model is powered almost exclusively by electricity.
Batteries can be plugged into electrical outlets overnight to recharge. On longer trips, a small gasoline engine recharges the batteries, providing extended range.
Toyota hasn't said how much its plug-in hybrid will cost, but the New York Times quotes a Toyota executive as saying the new model will be "affordable." The Chevy Volt plug-in hybrid is expected to start at around $40,000.
Toyota says its all-electric Prius would be twice as efficient as the current gasoline hybrid model and would recharge in only one and a half hours.
Toyota has proven in the past that consumers will purchase fuel efficient cars that have a "green" image, even paying a premium for the privilege. Perhaps the Prius is the best example of that. Since rolling out in 1997, demand has been strong for these cars. In fact, when gasoline prices soared over $4 a gallon in 2008, there were often waiting lists for Prius' at Toyota dealers and consumers who were able to get one had to pay a "surcharge."
However, in terms of gasoline mileage versus the extra cost of the vehicle, Prius owners didn't always save money. There have also been nagging problems with the car's traction control, as well as other problems, according to ConsumerAffairs.com readers.
"The engine of my 2007 Toyota Prius frequently fails to shut down when I firmly push the power button, exactly as directed in the owner's manual, often requiring that I push the button a second time," William, of Memphis, Tenn., told ConsumerAffairs.com. "Even if I hold the button in several seconds with the brake depressed. The car has never 'run away' with me, thus I have only experienced this problem when I have come to a stop and wish to get out of the car. The problem started after I had the car about 18 month and had driven approximately 15,000 miles."
