Due to soaring gas prices, Toyota Motor Corp. is expecting a worldwide surge in demand for its economical hybrid vehicles. The company is gearing up for the projected demand for hybrid vehicles as it plans to build three hybrid battery factories. With these new factories, Toyota aims to produce 1 million battery units by 2011.

A nickel-metal battery plant will be built in Northern Japan, while a current nickel-metal battery plant in Shizuoka will be expanded to accommodate the company’s demand projections.
The third plant will be built also in Shizuoka, Southwest of Tokyo, but it will focus on the production of lithium ion batteries.

The plan appears to Nissan Motor Co. recent announcement that it will start mass producing lithium ion batteries.

Lithium ion batteries are touted to be lighter and more powerful than nickel-metal batteries. If production cost hurdles are solved, lithium ion batteries could vey well be the future of mass-produced hybrid and/or electric cars in general.

 Toyota Motor Corp. obviously wants to keep in pace with any possible technological breakthroughs. 

The company is aiming for a global annual sales figure of over 1 million hybrids early 2010: more than double its worldwide hybrid sales of 429,000 in 2007.