Toyota has decided that the evolution of green technologies is taking too long. Toyota Industries is the sister company of Toyota Motors and it sells technology to manufacturers including automakers all over the world.
To show its independence and apparently to minimize development time, Toyota Industries is creating a new test facility in the Mie Prefecture of Japan. This center, developing AC/DC converters that make hybrids and electric cars more feasible and practical. They will also be working on more efficient and powerful motors.
The new facility will be on a 64 hectare site.The company expect development to cost $51,183,727. An environmental assessment is scheduled to begin in fall. Toyota is hoping to have the facility operating by 2017.
[Source: The Economic Times]