Toyota has denied it received government funding to develop its successful Prius model.
The company rejected allegations published in a Business Week article that quoted Jim Press, former board member at Toyota, as saying, “The Japanese government paid for 100 percent of the development of the battery and hybrid system that went into the Toyota Prius.”
Toyota spokesman Paul Nolasco said: “I can say 100 percent that Toyota received absolutely no support — no money, no grants — from the Japanese government for the development of the Prius”.
Bringing the truth on this story is rather difficult as Toyota is rather secretive. As former board member of Toyota, Jim Press also gives some credentials to its statement. Moreover, the Japanese industry has always had and still has strong link the powerful MITI which promotes some private-sector projects, especially those for clean energy. However, this is the first time that Toyota is mentioned in such a case.
Leave a Reply