MRZUY - Toyota introduces mass market hybrid SUV to Indian market

Toyota Motor Corporation ( NYSE: TM ) unveiled the Urban Cruiser Hyryder SUV on Friday.

The Hyryder model is the first mass market hybrid car made by Toyota ( TM ) for India and is being produced as part of an alliance with Maruti Suzuki ( OTCPK:MRZUY ).

The mid-size SUV is said to draw some inspiration from Lexus models. Toyota Hyryder is reported to be powered by a 1.5-litre mild-hybrid petrol engine that will deliver 103 hp and come paired with a 6-speed manual transmission and a 6-speed automatic transmission. It is also expected to get a new 1.5-litre strong hybrid petrol motor that will come mated to an eCVT.

The Japanese automaker said the new model will be an ultimate game changer in the India electrified auto space and sets up Toyota ( TM ) to compete with Hyundai ( OTCPK:HYMTF ) and Kia Motors ( OTCPK:KIMTF ).

Toyota ( TM ) has made the decision to take the hybrid route in developing markets like India, where it believes infrastructure is not ready for battery electric vehicles.

However, Toyota ( TM ) will face a challenge on pricing due to the high taxes that the Indian government levies on hybrid cars. Tesla recently placed its EV plans in India on hold because it was not allowed to sell imported cars.

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