About 95% of Toyota India’s domestic automobile market continues to be served by ICE (internal combustion engine) vehicles, Vikram Gulati, Country Head and Executive Vice President, Toyota Kirloskar Motor, told Business Today.“Proportionate merit-based policy treatment for all green technologies is what is required. Whether it’s a strong hybrid or an ethanol vehicle, or an electric vehicle, or a plug in hybrid, the Rupee taxation that a consumer has to pay should not be more than a petrol vehicle, because, if it’s the same also there is neither incentive nor disincentive,” says Vikram Gulati, Country Head and Executive Vice President, Toyota Kirloskar Motor, adding that instead of a petrol vehicle, the consumer would be buying a greener option, paying the same amount of money in terms of rupees. “The challenge for the country is that penetration of electric vehicle is 2.5% and that of hybrid is 2.3%. So largely, 95% of the market remains unaddressed. Therefore, we believe that to address this huge, vast market that remains conventional in terms of petrol or diesel, you do need a host of green technology options,” according to Gulati. Toyota, which is present in India for more than 26 years, recorded its highest ever annual sales of 3,26,329 units, witnessing a growth of 40% driven by Innova Hycross, Urban Cruiser Hyryder and Hilux. In the second half of CY2025, the company will be launching its first EV, through its partnership with Suzuki Motor Corporation. Unlike, its peers, however, the Japanese automaker is baiting on its multi-powertrain strategy to drive success. “For Toyota, we believe the goal that we’re really trying to achieve as a company or as an industry is to tackle the problem of weaning away from fossil fuels towards renewables, so it leads to a path of a greener future where carbon emissions can be mitigated. So, Toyota has never been lost sight from our perspective. Toyota has all these technologies. Therefore, our choice of green technologies is governed by the technology that can readily be accepted and adopted by the consumers in a much more rapid way,” says Gulati. Apart from bringing greener technologies such as ethanol and hydrogen, the company has been bullish towards hybrid as a technology. The company has two strong hybrid vehicles- Urban Cruiser Strong Hybrid and Innova Hycross Strong Hybrid in its portfolio. “Both of these products have seen very good adoption,” says Gulati.
Ven. Gen 17th, 2025
