Toyota mulls launching its hybrid fuel car in India
14 Feb 2007
After having unveiled its electric-petrol Prius at the International Engineering Trade Fair in New Delhi today, auto major, Toyota Motor says that it is studying the Indian market to launch its eco-friendly car 'Prius'.
The constraint, however, it says is that the current duty structure on completely built units would double its price.
According to A Toyoshima, managing director, Toyota Kirloskar, the company was studying the Indian market to introduce the hybrid vehicle, which would have to be brought in as a CBU. "But at current levels of duty, it could cost anywhere between Rs 20-25 lakh,'' Toyoshima said.
In the US market, the Prius retails for around Rs10 lakh, and according to the company accounts for nearly 80 per cent of the hybrid vehicle sales globally. He said the Indian government should relax the duty structure for such hybrid vehicles to promote eco-friendly technology in the country.