Toyota charts new course in India with its first mass market hybrid car – Reuters

July 1, 2022 by No Comments

The Toyota logo is seen at its booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song/File Photo/File Photo

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NEW DELHI, July 1 (Reuters) – Toyota Motor Corp (7203.T) on Friday unveiled its first mass market hybrid car for India, a sport utility vehicle (SUV), charting a new course for the Japanese automaker in one of the world’s fastest growing car markets.

The Urban Cruiser Hyryder SUV, the first car to be built by Toyota as part of a global alliance with Suzuki Motor Corp (7269.T), will compete with Hyundai Motor Co (005380.KS) and Kia Motor Corp (000270.KS) in a segment that accounts for a large portion of auto sales in India.

The new model will be an “ultimate game changer” for the company in India’s electrified auto space, Vikram Kirloskar, vice chairman of local unit Toyota Kirloskar Motor, said at a launch event in New Delhi.

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It also reinforces Toyota’s decision to take the hybrid route in developing markets like India, where it says infrastructure is not ready for battery electric vehicles (BEVs) and much of the electricity is generated using coal or other fossil fuels. read more

While green investors have criticised the carmaker for slowness in moving its product line-up to all-electric vehicles, Toyota remains steadfast that hybrids make more sense in markets where it needs to offer a variety of choices depending on the energy mix and local needs.

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Source: https://www.reuters.com/business/autos-transportation/toyota-unveils-its-first-mass-market-hybrid-car-india-emerging-markets-2022-07-01/

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