Business Week Online, March 5, 2007
CEO Watanabe confirms that Toyota will develop new lithium-ion batteries for its third-generation hybrids ...In an interview with BusinessWeek on Feb. 16, Chief Executive Katsuaki Watanabe confirmed that Toyota's third-generation hybrid cars, due out in late 2008 or early 2009, will use lithium-ion batteries. Lighter and more powerful than the current nickel metal hydride packs, the new batteries will help make for more fuel-efficient hybrids. ... "We can develop the battery in time," he says. ... "We are now aiming at reducing, by half, both size and cost of the third-generation hybrid system," says Watanabe.