Toyota to reboot its hybrid strategy for India, to bring more green cars here
Toyota is betting big on hybrids for the Indian market and is currently in the process of rebooting its plans by doubling it up by keeping the price of these vehicles just right for the market. Toyota is planning to introduce low-cost hybrids, informed sources. The goal is to cut the cost of full hybrid powertrains by manufacturing them in the country along with sourcing the materials within India.
As per a Reuters report, Toyota is working together with Suzuki Motor in order to benefit from its low-cost engineering know-how and mild hybrid technology. One can drive a fully hybrid car to lengths with the help of its electric power whereas a vehicle with mild hybrid technology only supplements the combustion engine to help reduce emissions. However, mild hybrids come with smaller batteries and cost far less. “The hybrid bet is a turning point. It will be a litmus test for Toyota's future and success in India," a source was quoted as in the report.
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Since electric vehicles are on the higher side of price chart, Toyota is seeing hybrids as an opportunity to get its foothold right in the country as it observes that this technology will benefit the Indian consumers who are sensitive to price. The cost of hybrid vehicles is far less compared to EVs. The current charging infrastructure of the country is also yet to be fully developed and since hybrid models do not need charging, these models can help consumers to move towards the transition that the auto industry is undergoing.
Toyota already has a hybrid model called the Camry, a sedan which the automaker introduced in the Indian market in 2013. The price of the Toyota Camry sedan stands at ₹41.70 lakh (ex-showroom) which is dearer for a major section of Indian customers. Toyota is bringing in a new hybrid model to India called the Urban Cruiser Hyryder SUV. The model will be priced in a lower range compared to the Camry.