Toyota Motor Corp.

, after long neglecting the humble internal combustion engine in favor of hybrids, is preparing a sweeping powertrain makeover.

The automaker is designing common parts to spread costs across large numbers of engines.

This will allow it to economically customize engines for specific vehicles with fuel injection, turbocharging and more.

The new engine strategy will catapult Toyota ahead of rivals, Koei Saga, senior managing officer in charge of powertrain development, told Automotive News.

Toyota is seeking fuel economy increases of up to 30 percent and cost cuts on key components of up to 50 percent.

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Toyota Launches Engine Strategy to Move Powertrains Out Of The 90's

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