Toyota Mulls Plug-in Hybrids, Ethanol Cars for US

Toyota Motor Corp.'s (TM) top U.S executive said the Japanese auto maker may introduce ethanol-powered vehicles in the U.S. market in the "near term" and it is "pursuing a plug-in hybrid vehicle" in the U.S.

Toyota North America President Jim Press said the company, widely viewed as a fuel-efficiency leader in the auto industry, is embarking on the projects in an effort to solve some of the key issues in our society, as well as encourage other auto makers to keep moving forward. Press's remarks came in a prepared speech released by Toyota in advance of an appearance before the National Press Club here.

Toyota is strongly considering introducing a flex-fuel vehicle program in the United States in the near term, Press said. We're already developing vehicles that can operate in ethanol-rich Brazil and we're optimistic that we can offer similar vehicles to American consumers.

Press did not elaborate in his remarks on the company's exact plan related to plug-in hybrid vehicles, except to say the announcement of Toyota's interest in such products has been highly anticipated. Ford (F) Chief Executive Bill Ford in May said his company is considering selling a plug-in hybrid vehicle, which can be plugged in when not in use in order to recharge batteries.

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