Hotai Debuts Locally Made Hybrid Cars

Taipei, Feb. 17, 2012 (CENS)--Hotai Corp. unveiled the first locally made model of oil/electricity hybrid model, Camry Hybrid, yesterday (Feb. 16) and set the goal of moving 20,000 units of oil/electricity hybrid cars this year, 3.5 times the sales amount last year.

Su Chun-hsing, president of Hotai Corp., expressed confidence in the sales of locally made hybrid cars, citing the warm reception of the domestic market to the imported hybrid model, Lexus CT200h, last year.

Liu Yuan-shen, vice president of Hotai Corp., pointed out that in the wake of the 50% reduction on the commodity tax for environment-friendly cars in 2009, domestic sales of hybrid cars in Taiwan have been expanding robustly, to 3,560 in 2010, up from 2009’s 2,034, 3,560 in 2010, and 4,500 last year, up over 30%, despite the reduced supply caused by Japan’s big earthquake.

Thanks to reduced commodity tax and agreement of Toyota to cut the cost for imported components and parts, prices of locally made hybrid cars are very competitive. Camry Hybrid 2.5L, for instance, carries a price tag of NT$1.069 million, NT$200,000 lower than original expectation and NT$70,000 higher than the gasoline version of the similar model.

Hotai sold 4,500 hybrid cars last year, all imported ones. The sales target for hybrid cars this year has been set at 20,000, including 12,000 locally made ones and 8,000 imported ones.

Su Chun-hsing reported that the company’s goal is to raise the share of hybrid cars to 60% of its sales in four years, leaving 40% to traditional gasoline models.