Toyota in Talks to Develop Hybrid Vehicle Technology

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As tech giants compete in the rat race towards technological advancement, automobile companies aren’t lagging behind. Trending in the latest tech news, Toyota Motor Corp has stated that it is currently in talks to develop a hybrid vehicle technology. Although nothing has been finalized yet, circulating reports state that the company is working with a Chinese automaker named Geely. They plan to develop a gasoline-electric hybrid technology that could be a game-changer for the future automobile sector.

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Toyota and Geely to Develop Fuel-Electric Hybrid Tech

To keep up with the heavy competition, Japanese automobile manufacturer Toyota has been attempting to increase its sales in Chinese markets. It is increasingly embracing new automotive technology to enhance the future growth of the company. A statement released to Reuters read that Toyota and Geely are “communicating with each other”.

This potential partnership would be highly beneficial for both companies. Both Toyota and Geely have already roped in a Chinese supplier of electric battery technology for this purpose.

Though representatives of Toyota have refused to divulge any details about the exciting new hybrid tech, the statement revealed, “Toyota has been conducting the business with the open policy which also applies to the area of electrification technologies. The relationship with Geely (Toyota is exploring) is also based on this open policy.”

Flying Cars and Gasoline-Electric Hybrids: What Does the Future Hold?

With the latest developments in artificial intelligence and machine learning, companies are working round the clock to adopt new technologies. From Google co-founder Larry Page’s Kitty Hawk and Uber’s flying taxi to Rolls Royce’s flying car prototype, the automobile sector has come a long way indeed.

Does Toyota’s Prius Hybrid Have Competition?

This won’t be the first time that Toyota is experimenting with gasoline-electric hybrid technology. In the late 1990s, Japan’s biggest automaker placed its bets and won big with the launch of the Prius Hybrid. Since then, it has been selling different versions of the model under the names Corolla and Levin. Currently, the Chinese market is the world’s largest auto market and tying up with Geely will surely improve Toyota’s chances of ramping up sales.

Geely Builds a New Automobile Manufacturing Unit

Meanwhile, the Chinese automaker Geely recently built a brand new plant in the eastern port city of Ningbo. The unit will have the capability of producing 250,000 large-sized cars annually. The company is renowned for making affordable cars and its new plant will help it gain a greater share of the Chinese market. If the deal with Toyota goes through, this could mean a slight change of plans for Geely, that has recently launched a new brand.

Since spokespeople for both Toyota and Geely have declined to comment further on their co-operation, it is not immediately clear what technical aspects they are working on. Chinese media reports have stated that the details of Geely and Toyota’s new venture will be shared with the public soon.

SEE ALSO: Rolls Royce Races to Make Flying Cars a Reality

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