Toyota Motor Corp. is exploring the possibility of assembling hybrid vehicles or manufacturing car parts in Malaysia Toyota Motor Sdn Bhd president, Ismet Suki said.
“We would look and monitor the situation. We’re beginning to see the awareness of hybrid cars and if the market improves and the volume is at a reasonable figure, we will look into that.
Sales of hybrid vehicles in Malaysia are expected to hit an all-time high this year, boosted by rising popularity, increasing awareness, ongoing tax incentives and new model launches.
OSK Investment Research analyst Ahmad Maghfur Usman believes hybrid vehicle sales could see a 40 per cent growth this year.
“I think it can easily grow by that much. The spur of interest in hybrids will continue to be there, especially with new model launches (in the pipeline). Plus, judging from the margins that automakers are earning from hybrids, there is always room for discounts to excite the market,” he said.
The announcement comes shortly after Toyota launched its Prius C in Malaysia. The vehicle is coming with three selectable drive modes, the Normal, the Eco and the EV, where the Eco is helping the driver to emit low CO2 emissions and burn just a tiny bit of fuel and the EV is allowing the model to run on electric power alone at speeds up to 45 km/h.