Toyota (NYSE: TM) is "secretly" developing a solar-powered vehicle, according to an Associated Press report published on Thursday.
The AP cited the Japanese business newspaper Nikkei which reported that Toyota is working on a vehicle that draws some of it’s power from solar panels on the roof of the vehicle. The report said the company hopes to later develop a vehicle run entirely on sun power.
Toyota officials could not be reached for comments and it was not immediately clear how this report differs from unconfirmed stories last July that Toyota planned to install solar panels on some of its third-generation Prius vehicles.
Toyota’s partner in developing and producing hybrid batteries, Panasonic Corp. (6752.T), is acquiring Sanyo Electric Co. (6764.T), which has a strong solar cell business.
Toyota recently announced that it will report its first operating loss in 70 years.
The company also halted construction indefinitely on a new manufacturing plant in Mississippi that was to build the popular Prius hybrid.
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