Mazda Motor Corp (7261.T) intends to purchase hybrid vehicle components from Toyota Motor Corp (NYSE: TM), according to a report in the Nikkei business daily. An official announcement is expected soon.
Mazda plans to introduce a hybrid vehicle by 2013, with a sales target of 100,000 units a year, the report said. This marks a strategic shift for the company, which previously said it intended to focus on improving fuel efficiency of its internal combustion engines until 2015.
Mazda’s shares rose 8.9% on the news and Toyota’s rose 2.9%, according to Reuters.
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Toyota launched its first hybrid-only model under its premium Lexus brand on Tuesday.
The company said it has already received six months worth of orders for the HS250h, which sells for about $42,000. Toyota will begin selling the vehicle in North America in September.
Like Toyota’s Prius hybrid, the HS250h is only available with a hybrid drive train.
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