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Toyota, Suzuki take hybrid route in India for local, global markets

By Aditi Shah NEW DELHI (Reuters) -Toyota Motor Corp and Suzuki Motor Corp on Friday said they would begin production of hybrid vehicles in India, a category that Toyota has said...

By Aditi Shah

NEW DELHI (Reuters) -Toyota Motor Corp and Suzuki Motor Corp on Friday said they would begin production of hybrid vehicles in India, a category that Toyota has said is currently best suited to such markets.

A Toyota plant in southern India would in August begin building a hybrid sport utility vehicle (SUV) developed by Suzuki, the companies said.

Two power trains would be available, they said: one with a mild hybrid configuration from Suzuki and the other as a strong hybrid from Toyota. In a mild hybrid, the battery only assists the piston engine, without the all-electric mode available in a strong hybrid.

Building the model is part of a broader partnership formed between the two Japanese automakers in 2017. It will be sold in India and exported to markets including Africa.

Green investors have criticised Toyota, the world's largest carmaker by sales, for slowness in moving its product line-up to all-electric, battery electric vehicles (BEVs).

But the company has argued that hybrids make more sense in markets where infrastructure is not ready for BEVs and that it needs to offer a variety of choices.

It has also said that much of the electricity in the developing world is generated by burning coal or other fossil fuel. Since BEVs rely on that generation, they are more polluting in those markets than hybrids are, it says.

Toyota last year committed to spending $60 billion by 2030 to electrify its range of vehicle models, but only half of that is for the development of fully electrics ones.

The new SUV, which has not been named, will be marketed as both a Toyota and a Suzuki, each company relying on its local affiliate to do so, they said in their joint statement.

India wants carmakers to build more electric models but the uptake for such vehicles so far has been slow, and only Tata Motors (NYSE:TTM) builds them locally.

Suzuki committed in March to investing $1.4 billion in the country to produce BEVs and batteries, but its local unit, Maruti Suzuki , India's biggest carmaker, has said it will not launch a fully electric vehicle before 2025.

Toyota is also focused on setting up a supply chain for electric vehicles in India before making BEVs there. It said in May it would invest more than $600 million to make India a global production hub for EV parts, including electric drives.

While BEVs are currently too expensive for mainstream buyers in India and other emerging economies, so are complex hybrids like the Prius, whose manufacturing cost Toyota has had trouble cutting.

This is among the reasons why Toyota partnered with Suzuki, which has championed low-cost manufacturing in India. The agreement between the two includes joint product development, lowering local sourcing costs and sharing technology.

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01-07-2022 02:47:11 (UTC+7)

EUR/USD

1.0476

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EUR/USD

1.0476

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GBP/USD

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USD/JPY

135.68

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41.525

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Bayer AG NA

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Adidas AG

168.76

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Deutsche Lufthansa AG

5.564

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97.09

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8.318

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 EUR/USD1.0476↑ Buy
 GBP/USD1.2176Neutral
 USD/JPY135.68↑ Sell
 AUD/USD0.6906↑ Buy
 USD/CAD1.2869↑ Buy
 EUR/JPY142.13↑ Buy
 EUR/CHF1.0006↑ Buy
 Gold1,809.15↑ Buy
 Silver20.285Neutral
 Copper3.6920Neutral
 Crude Oil WTI105.79↑ Sell
 Brent Oil109.18Neutral
 Natural Gas5.555↑ Sell
 US Coffee C230.28Neutral
 Euro Stoxx 503,454.86↑ Buy
 S&P 5003,789.85↑ Sell
 DAX12,783.77Neutral
 FTSE 1007,169.28Sell
 Hang Seng21,859.79Sell
 Small Cap 20001,701.90↑ Sell
 IBEX 358,098.70Sell
 BASF41.525↑ Buy
 Bayer56.72Neutral
 Allianz182.12Sell
 Adidas168.76Buy
 Lufthansa5.564↑ Buy
 Siemens AG97.09↑ Sell
 Deutsche Bank AG8.318Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,810/ 6,870
(0/ 0) # 1,764
SJC HCM6,830/ 6,890
(0/ 0) # 1,783
SJC Hanoi6,830/ 6,892
(0/ 0) # 1,785
SJC Danang6,830/ 6,892
(0/ 0) # 1,785
SJC Nhatrang6,830/ 6,892
(0/ 0) # 1,785
SJC Cantho6,830/ 6,892
(0/ 0) # 1,785
Cập nhật 01-07-2022 02:47:14
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ↀ Giá vàng thế giới
$1,808.63-10.43-0.57%
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Sản phẩmVùng 1Vùng 2
RON 95-V33.47034.130
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DO 0.05S30.01030.610
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Ngoại tệMua vàoBán ra
USD23.105,0023.415,00
EUR23.704,3925.032,07
GBP27.520,9428.694,87
JPY165,73175,46
KRW15,5118,90
Cập nhật lúc 18:51:16 30/06/2022
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