“Toyota’s Electrifying Plans: A Shift Towards a Greener Future”
“Toyota offers a diverse range of vehicles, including fully electric, hybrid (HEV), and plug-in hybrid (PHEV) models. At this point, Toyota Vietnam is primarily focused on its hybrid lineup,” shared Mr. Keisuke Tokunaga, Director of Business Strategy at Toyota Vietnam, during our conversation on September 26th, at the press conference announcing the Vietnam Auto & Motorcycle Show 2024 (Vietnam Motor Show 2024).
Hybrid vehicles combine two distinct powertrains, consisting of a gasoline engine and an electric motor. The standout feature of these vehicles is their fuel efficiency and environmentally friendly nature.
Explaining Toyota Vietnam’s focus on hybrids, Mr. Tokunaga attributed the decision to the fact that these vehicles do not require additional infrastructure, providing convenience to customers as they need not rely on charging stations.
This strategy has proven effective, reflected in the rising monthly sales of Toyota’s hybrid vehicles. Notably, the Toyota Innova Cross, offered in both gasoline and hybrid versions, witnessed 38% of its sales originating from the hybrid variant.
According to data from the Vietnam Automobile Manufacturers’ Association (VAMA), the Toyota Innova Cross topped the sales charts for hybrid vehicles in Vietnam during June 2024, with 274 units sold. It was the only hybrid model to surpass 200 sales, outperforming the Suzuki Ertiga and even outselling the gasoline version of the Innova Cross (266 units).
“An increasing number of customers are embracing hybrid technology and choosing to purchase these vehicles. At the Vietnam Motor Show 2024, Toyota will also introduce a new hybrid model, allowing customers to experience it firsthand,” Mr. Tokunaga revealed.
“We plan to introduce fully electric vehicles into the Vietnamese market at the opportune time when everything is in place, in terms of infrastructure and market readiness. However, we cannot share the exact timeline at this moment,” he added.
The press conference announcing the Vietnam Auto & Motorcycle Show 2024 (Vietnam Motor Show 2024) was held on September 26th.
A total of 19 automotive and motorcycle brands will be present at the event, including renowned names such as Honda, Toyota, Suzuki, Yamaha Motor, and Harley-Davidson, alongside over 50 brands from the auxiliary industry. Each participating brand will showcase its standout models, featuring modern technologies, with a particular focus on the latest electric and hybrid vehicles.
As shared by Mr. Nakano Keita, Chairman of VAMA, at the press conference: “The Vietnamese automotive industry is undergoing a robust development phase, with promising prospects, especially the shift towards electric and hybrid vehicles. At the Vietnam Motor Show 2024, attendees will be treated to a diverse range of modern vehicles, catering to various price points and offering fuel efficiency and multi-purpose capabilities to meet the needs of consumers in the current economic landscape.”
However, while consumers are increasingly embracing the “green” trend, automakers also face challenges in promoting the adoption of environmentally friendly vehicles.
“Toyota has received feedback from customers regarding certain concerns, particularly related to the longevity of batteries, as this is a new technology. In contrast, internal combustion engines have a long history, so customers don’t have the same worries,” Mr. Tokunaga explained.
“To address these challenges, Toyota has extended the warranty on hybrid vehicle batteries from 5 years to 7 years and from 100,000 km to 150,000 km. This will help alleviate customer concerns and foster trust in our hybrid offerings,” he added.
Regarding fully electric vehicles, our main challenge is the lack of a charging station network, which can be inconvenient for customers,” Mr. Tokunaga shared.
The Fruitful Harvest: Vietnam’s Record-Breaking Produce that has China Craving for More.
This is an unprecedented record for this type of fruit in Vietnam. The country has never seen such an abundance of this particular produce, and it marks a significant milestone in the agricultural industry.
Why Did Vietnam’s Largest Auto Expo Change Its Name?
The Vietnam Motor Show 2024 has suffered a significant blow with the withdrawal of several major car brands, including Audi, Mercedes-Benz, Volvo, Volkswagen, and Ford. In an attempt to salvage the event, the organizers have had to resort to inviting motorcycle companies to participate and fill the void left by these prominent automotive brands.
The Power of Insurance: A Lesson from Katrina for Vietnam’s Resilience Against Storms
In 2005, Hurricane Katrina made landfall in the United States, leaving a trail of devastation in its wake. With wind speeds exceeding 175 km/h, the storm caused immense damage, claiming the lives of over 1,800 people and resulting in economic losses of a staggering $120 billion. The impact of the hurricane was felt across the nation, with insurance companies paying out more than $40 billion to help those affected rebuild their lives and recover their assets. As the chief economist of ADB Vietnam highlighted, the storm’s aftermath led to a significant insurance payout, providing much-needed financial support to those who had lost so much.
