Toyota Motor Corp. President Akio Toyoda will testify before a U.S. House of Representatives panel looking into the carmaker's safety problems next week, the company announced Thursday.

The decision to attend next Wednesday's House Oversight and Government Reform Committee hearing followed a formal invitation by its chairman, Rep. Edolphus Towns, a Democrat from New York.

"I look forward to speaking directly with Congress and the American people," Toyoda said in a statement.

Meanwhile sources said Friday that during the closely watched testimony, Toyoda is expected to explain newly outlined quality reforms, including its goal to have on-site inspections within 24 hours of any reported product malfunction in the United States.