Detroit may be falling behind the curve again. Toyota (TM) will begin to mass produce lithium ion-batteries in less than two years, making the chances that a working electric car will be in the market shortly.
According to Reuters, Toyota "is keen to bring such vehicles into the mainstream by lowering their cost premium as more consumers around the world demand higher fuel economy." The power plant is plugged into an outlet and takes a charge which can be renewed a large number of time. Toyota may be able to put out a million batteries a year before the end of the decade.
The news cannot be good for Toyota’s competition, especially if the new car works. A vehicle which costs about the same as gas-powered car but does not require money for gas should be a big seller. That is the theory and it is hard to find fault with it.
In Detroit, GM (GM), Ford (F), and Chrysler managements are scratching their heads wondering how Toyota got out of the box faster, again.
Douglas A. McIntyre
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