Toyota Motor Corporation, the largest car maker in the world, is planning to introduce a hybrid variant of its Etios model, in order to remain parallel with the emerging demand for hybrid cars in the Indian auto market. Reportedly, the auto maker is also considering the production of these models in the domestic market. Interestingly, the National Electric Mobility Mission Plan (NEMMP) 2020 has lured a number of auto makers towards introducing hybrid and electric models in the Indian auto market.
Reportedly, NEMMP 2020 will come with an attractive subsidy strategy through which it will provide a direct concession on the ex-showroom prices of electric and hybrid models. Industry experts are of a view that this move will be a motivating factor for a number of auto makers like Mahindra & Mahindra and Toyota. As of now, the Indian buyers are offered with just Mahindra Reva e2o as an electric vehicle, which is rejoicing with sole dominance in its respective segment.
Toyota Kirloskar Motor, the Indian arm of Japanese auto maker, is currently busy in the developing the assembly plant for hybrid models in the country. Along with its much appreciated Prius hybrid model, the auto maker has also framed plans to introduce a hybrid model of Camry hybrid to improve its chances for reaping the benefits from NEMMP 2020. In order to capitalise in the price sensitive market like India, experts believe that Toyota will be exploring at various strategies.
Speaking on the same lines, the Chief Engineer of Toyota Motor Corporation, Kouji Toyoshima was quoted as saying, “We need to consider hybrid version of Etios going forward or a car for the emerging market. I think the first priority is to reduce the cost of the vehicle and improve efficiency levels, so that the customers in India are willing to choose hybrids as a better affordable alternative for the future.”
It must be noted that hybrid cars are relatively much expensive than the regular models, depending on the relief provided to the model by the government. However, these are significantly fuel efficient in comparison with the conventional fuel-run models. With NEMMP, the central government of India is anticipating a massive investment of Rs. 23,000 crore. Also, a major chunk of money will be spent on demand creation by providing subsidies to the cars. Speaking on the demand for Hybrid cars in India, Toyoshima further added, “If it happens, it could be a smart solution for Indians, who are smart.”
