Toyota Motor Corp. on Wednesday denied it had received any funding from the Japanese government to develop its hit Prius gas-electric hybrid car. Japan's top automaker rejected a March 24 Business Week report that quoted Jim Press, vice chairman and president of Chrysler LLC and a 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."
Press worked for 37 years at Toyota, including the years of research for the Prius, which went on sale 10 years ago. He left Toyota for Chrysler last September.
Prius has become a global hit because of the appeal of its technology that boosts fuel efficiency by switching between a gas engine and electric motor amid growing concerns about global warming and soaring gas prices.
Toyota said the report was untrue.
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