Toyota Motor Corp. President Akio Toyoda said Tuesday the company will focus heavily on hybrid vehicles as it tries to drive further growth.
The company aims to improve the fuel efficiency of hybrid vehicles and launch 15 new models in the next two years. Toyota is the world's top-selling automaker and its hybrid Prius is already popular in major markets worldwide. Its Aqua model, marketed in Japan, has a strong domestic following.
Speaking at a shareholders' meeting in Nagoya, Toyoda said the company plans to "aggressively plant seeds now, when we can put our resources for the future." He suggested the firm would achieve sustainable growth by prioritizing worker training as well as R&D.
Toyoda also said the automaker's "management has certainly been bolstered," as it logged a group operating profit of almost ¥2.3 trillion for the fiscal year that ended in March, a new record high after a six-year slump.