Ford, Toyota to develop hybrid system

U.S.-based Ford Motor Co. Ltd. and Japan’s Toyota Motor Corp. announced that they will work together to develop a gas-electric hybrid system that will power sport-utility vehicles and pick-up trucks. Both are already selling hybrid cars and in this new venture they will share development costs in making technology more affordable for customers and to bring it to the market sooner. The new system will be used to power some of Ford’s F-Series pick-up trucks, as well as run Toyota’s full-sized pick-up, the Tundra and in rear-wheel-drive sport utility vehicles (SUVs). (August 23, 2011)