Toyota to roll out products based on multiple technologies to cater to varied customer segments

Toyota Kirloskar Motor aims to roll out products based on multiple clean technologies while also reinforcing its internal combustion engine based model range to cater to all kinds of emerging customer requirements in the country, according to company's Managing Director Masakazu Yoshimura.

Terming India as one of the most important markets for Toyota globally, he noted that the automaker will keep rolling out products based on eco-friendly technologies considering various factors such as the country's energy mix, consumer needs and infrastructure readiness.

The automaker, while acknowledging the government support in manufacturing in terms of various schemes like Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME II) and Production Linked Incentive (PLI) schemes, also pitched for a carbon-based taxation system.

Click Here For Latest Updates On Stock Market | Zee Business Live

In an interaction with PTI on the sidelines of the Auto Expo here, Yoshimura noted that the automaker is conscious of the fact that a huge amount of forex goes into the import of fossil fuels.

"So that is perhaps one of the biggest problems for the country. So, we are trying to do whatever possible to support what the government wants to solve," he stated.

He further said: "We are only a manufacturing, sales and marketing entity. So the area is quite limited but what we can do with new technology, new products, that's perhaps the area we can focus on."

Toyota has committed to carbon neutrality by 2050 and aims to achieve net zero carbon in manufacturing operations by 2035.

The automaker continues to offer wider choices to customers with various vehicle powertrain technologies, including Strong Hybrid Electric Vehicles (SHEV), Plug-in Hybrid Electric Vehicle (PHEV), Battery Electric Vehicles (BEV), Fuel-cell Electric vehicles (FCEV), Flex-fuel as well as Flex Fuel Strong Hybrid Electric Vehicle (FFV-SHEV), and other bio-fuel vehicles.

In India, Toyota recently launched the pilot project on Flexi-Fuel Strong Hybrid Electric Vehicle (FFV-SHEV) Technology. Yoshimura noted that the company is always focusing on the emerging customer requirements.

"Our focus is like what the people want and what the country aims to solve," he said. Yoshimura stressed the need of having products which match the needs and requirements of a particular region.

"People are saying it is battery electric vehicles (BEVs) or internal combustion engine (ICE)..It should not be like A or B, it should be A, B and C, it should be diversified to match the regional issues...So what we are saying is mobility for all, we can't leave anyone behind... That's our philosophy," he said.

When asked about taxation policies, Yoshimura said the government has been supportive with favourable schemes like FAME 2 and PLI .

He however acknowledged that in terms of GST, it is the pure battery electric vehicles which were getting the lower taxation benefit as compared with the hybrid models.

"So, we are saying that it should be like a carbon based taxation system. That is always the best," Yoshimura said while adding that many countries across the globe have opted for the system.

A carbon-based taxation system sets a fixed price on per tonne of carbon or carbon dioxide emitted to incentivise lower carbon emissions.

On the global tie-up between Toyota and Suzuki he noted that the alliance is going very well in India as well.

On supply side challenges, Yoshimura noted that he expects the situation to be better this year as compared with last year.

However, it is difficult to predict the exact situation looking at various global geopolitical issues which could have an impact on the logistics and other related areas, he said.

On business outlook, he noted that the sales are expected to be better than last year.

"I don't know the figures but it would be better... Hopefully double (digit growth)," Yoshimura said.

Toyota Kirloskar Motor (TKM) reported total wholesales of 1,60,357 units in 2022, the company's highest dispatches in the last ten years. It sold 1,30,768 units in 2021. The best ever wholesales earlier clocked by TKM, was in the year 2012 with a total of 1,72,241 units.

Also, read- Budget 2023: How does India earn? What is the math behind it?