🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

UPDATE 1-Toyota denies plan to build hybrid car in France

Published 08/17/2009, 04:04 AM
Updated 08/17/2009, 04:09 AM
TM
-

(Updates with company denial)

* La Tribune says Toyota may build small hybrid in France

* Toyota has plans to focus on hybrids in Europe

PARIS/TOKYO, Aug 17 (Reuters) - Toyota Motor Corp said on Monday it has no plans to build a hybrid car at its Valenciennes factory in northern France, denying a report in La Tribune.

The newspaper said without citing its sources that the world's biggest automaker was considering building a new, small hybrid car model at the Valenciennes site, which produces the Yaris subcompact model.

"We have no such plans, and we are not considering the move either," Toyota spokesman Yuta Kaga said. "We have not even made a decision on whether to launch a hybrid model in France."

Toyota engineers and executives have said the company was working on developing a compact hybrid model for launch in the next few years as it aims to add the hybrid option on its entire line-up by around 2020.

Last month, Toyota said it would begin production of its first European-built hybrid car, the Auris hybrid hatchback, in England in mid-2010.

While many markets in Europe -- notably France -- heavily favour diesel cars over hybrids, Toyota said in June that it would alter its strategy in Europe to focus more on hybrid vehicles.

Toyota has expanded its hybrid production sites beyond Japan to include China, the United States, Thailand and Australia, typically receiving some form of state-backed incentives to build the fuel-sipping vehicles locally. (Reporting by Sudip Kar-Gupta in Paris, Chang-Ran Kim in Tokyo, editing by Marcel Michelson and Joseph Radford)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.