Toyota and Ford announce joint hybrid truck venture

Ford Motor Co. and Toyota Motor Corp are to collaborate in developing the first commercially available hybrid trucks and SUVs available to the market. In an announcement made earlier this week the firms hope to have the future rear-wheel vehicles on the market by the end of the decade.

Takeshi Uchiyamada, vice president for Toyota research and development, and Derrick Kuzak, Ford's product development chief, see the move as key in meeting the strict standards that are set to be implemented on fuel economy in the United States. "This is the kind of collaborative effort that is required to address the big global challenges of energy independence and environmental sustainability," said Ford Chief Executive Alan Mulally.

Since the introduction of the Prius sedan in 1997, Toyota has been the notable world leaders in hybrid vehicles, selling 3.3 million hybrid models in the process. With Toyota leading the stakes in hybrid sales, Ford undoubtedly has been the leader when it comes to pickup trucks in North America and Canada alike. The details of the agreement and how both sides will collaborate to their half of their deal are expected at some point in 2012, Kuzak added.