NEW DELHI: Toyota Kirloskar Motor (TKM) said on Wednesday that multiple powertrains and fuel options will continue to exist in the passenger vehicle (EV) market even as other carmakers in India have taken an aggressive electrification policy.
TKM said the national goal is to cut down carbon emissions and fuel imports and studies have shown hybrids are playing a key role in this. “Global perspective, clearly the trend is toward sustainable mobility and many cleaner technologies.
Globally, last year hybrids sales grew by 33% and EVs sales grew by 31-32%. In the Indian context, there is a huge space out there that needs to be addressed. 95% of the market continues to be fossil fuel based - petrol or diesel,” said Toyota Kirloskar executive VP, Vikram Gulati.
He added, “Going forward, we feel that many technologies, whether electric or biofuel, are going to be relevant in our pursuit of green mobility and decarbonisation.” Gulati called for an inclusive approach that extends tax incentives beyond fully electric vehicles.
Gulati’s approach towards multiple powertrains comes as rival carmakers like M&M and Tata Motors are expanding their EV line-up. In the months to come, Hyundai is expected to unveil the electric version of its Creta SUV as well. TKM on Wednesday launched new Camry hybrid EV at a price tag of Rs 48 lakh. It is equipped with advanced 5th-gen hybrid technology, improved fuel efficiency of 25 km/l.