Toyota to Sell Corolla, Levin Hybrids by 2015

Apr 21, 2014 01:45 PM EDT | Matt Mercuro

Toyota Motors has announced it plans on releasing hybrid versions of its Corolla and Levin sedans in China by 2015.

The vehicles will be manufactured with locally-made parts, in its first attempt to manufacture gas-electric hybrid vehicles outside of Japan, according to Reuters.

Toyota produces Prius and Camry hybrids in China, but it has to import some parts to complete the vehicles. This makes it difficult to "generate volume due to high import tariffs," according to Reuters.

By sometime in 2015, the Levin and Corolla hybrid models will be manufactured with made-in-China batteries, inverters, and hybrid transaxles, Executive Vice President Yasumori Ihara confirmed at the Beijing Auto Show on April 20.

Ihara oversees Toyota's emerging markets business, according to Reuters.

The world's largest automaker is also looking to "double" its auto sales in China to around 2 million vehicles a year, though no time frame for this target has been set.

Toyota, currently behind rivals like Volkswagen, General Motors, Hyundai and Nissan Motor Co. in China, wants to become the third best-selling carmaker in China soon. Eventually the automaker feels it can catch and surpass Nissan.

Toyota would have to introduce at least 15 new models in the country by the end of 2017 to achieve its goal, Ihara said, according to Reuters.

China currently accounts for approximately 10 percent of Toyota's total global sales.

Toyota sold 917,000 vehicles in China in 2013, a 9 percent compared to the same time a year earlier.

The automaker sold approximately 20,400 hybrid vehicles in China in 2013, an increase from only 7,900 in 2012.

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