Toyota has no plans to launch an electric vehicle in India and would wait for the charging infrastructure to develop before taking a telephone on launching these models, according to a senior official of Toyota Kirloskar Motor (TKM). TKM vice chairman and whole-time director, Shekar Viswanathan said that the company does not have any plans to introduce electric vehicles in the indian market as of now and will consider it once the infrastructure for electric vehicles is in place in the country.
TKM is a joint venture between the Japanese auto major and Kirloskar Group.
“Toyota (Motor Corporation) has an electric vehicle (in its portfolio and found in some foreign markets) but we (TKM) will wait for the charging infrastructure to come up in India before we ask Toyota Motor Corporation to give us (TKM) electric vehicle goods,” he said
Viswanathan said electric vehicle technology is very simple and so, it’s not very difficult to introduce such models, and agreed with the view that TKM can start EVs at short notice.
“We (TKM) already have an electric vehicle in the hybrid, which is an electric vehicle…except that if we remove the internal combustion engine, it will become an all-electric vehicle,” he added.
On his expectation of TKM earnings in the current financial year, Viswanathan said, “I do think it will go down slightly (compared to the previous fiscal) given the fact that GST rates have gone up.