Japanese auto maker Toyota Motor is planning to launch 21 new or redesigned gasoline-electric powered cars by the end of 2015.
Toyota expects the global sales of its hybrid vehicles to cross 1 million units in 2012 and will also see the sales to reach at least 1 million units annually from 2013 to 2015.
In addition, the automaker will also offer a new compact electric vehicle eQ to local governments and selected users in Japan and the US, starting from December 2012.
Further, Toyota plans to sell just 100 models of its newest electric vehicle eQ.
The Japanese automaker said it will locally produce the hybrid engines in China of by 2015.
Toyota vice chairman and R&D head Takeshi Uchiyamada said "Profits from conventional [gas] powered cars are still higher, so we need to reduce hybrid costs more in order to promote their diffusion."
Japaneese automaker is also planning to move its production of Highlander SUV hybrid to a plant in Indiana, while core engine components will be exported from Japan.
In addition, Toyota said it will also launch a fuel cell-powered sedan in Japan, North America and Europe, around 2015.
