TOKYO – Nissan Motor Co. plans to sell a hybrid vehicle developed in-house in 2010, limiting its licensing ties with Toyota Motor Corp. to the Altima sedan due in the United States next year, reported Japanese daily Yomiuri Shimbun
, according to Reuters. Japan’s two biggest carmakers signed a deal in 2002 under which Toyota would sell its hybrid system to Nissan.
Nissan Chief Executive Carlos Ghosn has said that hybrids make little business sense because of their low profit margins, despite their higher retail price, according to the Reuters report. Ghosn also said that the Altima hybrid, due next year, was merely a necessity to clear California’s average fuel economy regulations.
Originally posted on Fleet Financials