Toyota has firmed up plans to step up its game in the green mobility segment, and is preparing to launch a slew of powerful hybrid vehicles in the heart of the local market over the next few years to reduce vehicular emissions until renewable energy becomes more widely available, making electric automobiles cleaner and more mainstream.
The first of those items, which can be made as domestically, will hit the streets later this year.
Toyota – which operates in the country via a joint venture called Toyota Kirloskar Motor (TKM) – is also investigating the viability of Compressed Natural Gas (CNG), ethanol, electric, and green hydrogen-powered automobiles, based on the economics and net carbon emissions of each of those applied sciences, in line with the country’s vitality security requirements.
For the domestic market and export, the company has already invested 2,000 crores on know-how and electrification. New investments can be made ahead of the launch of a new product.
“We feel very firmly with 70% coal-based power, strong hybrids give the least amount of well to wheel carbon emissions,” Vikram Kirloskar, vice-chairman, Toyota Kirloskar Motor (TKM), told ET in an exclusive interview. We’ll keep promoting hybrids. As the 70% figure declines and more renewable energy become available, we will witness an increase in the number of electric vehicles on the road. Our goal is to reduce overall carbon emissions.” TKM now produces a premium sedan hybrid Camry in India.
When the new technology vehicles arrive, the corporation will lobby the government to simplify the tax structure on these vehicles in order to encourage adoption. The business claims, “Right now, we’re exclusively creating gigantic luxury hybrids.” To be honest, I think making a case for them will be difficult. “We would certainly endeavour to establish a representation at that time as newer generation cars join the mass market,” Kirloskar said.
Currently, India charges a 28 percent GST on small hybrids (under 4m) and a 43 percent GST on larger hybrids.
The vehicle structure of electrified vehicles, whether hybrid, plug-in hybrid, or electric, is generally has the same necessity, according to Kirloskar. “They have a lot of things in common, and we’re trying to figure out what works best for each country,” he added.
