TOKYO – Toyota plans to introduce hybrid technology across its entire lineup, according to an AP news report. The manufacturer has a target goal of 1 million hybrids sold globally by 2012. The hybrid system, which is powered by electricity and gasoline and initially developed for the Pruis, will also power Lexus’ new luxury-class GS450h, due out later this year. In order to use the technology in cheaper models, Toyota is concentrating on lowering production costs, according to the report. The manufacturer also aims to keep the retail price differential between hybrid and conventional cars to less than $2,550.

Originally posted on Fleet Financials

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