Toshiba Corp. (Tokyo, Japan) announced that it will produce motors for hybrid-electric petrol vehicles, with annual sales projected at some $470 million within three years. Toshiba subsidiary, Toshiba Industrial Products Manufacturing Corp., will start producing 2,000 motors a month in April 2004 for auto parts supplier Aisin AW, an affiliate of Toyota Motor Corp.
The company targets sales of 50 billion yen (US&467 million) in the year to March 2007, but provided no figures for output levels in that year. Toshiba has produced semiconductors and liquid crystal display panels that are used for car navigation systems, but the company has not previously made auto parts.
