Toyota reportedly plans to launch the trial of its new all-electric pickup Hilux EV in the Thai market, Reuters reports, citing the company executive’s remarks.
The move is apparently part of the Japanese automaker’s strategy to compete with Chinese brands that currently lead the local market.
Plan details
Toyota Daihatsu Engineering & Manufacturing Executive VP Pras Ganesh disclosed that the automaker’s automotive engineers are actively refining its e-pickups to adapt to local settings.
Toyota is also establishing a strong Research and Development capacity for electric vehicles in Thailand, which is one of its key R&D hubs worldwide.
EV-a2z recently reported that Toyota brought the HiLux BEV to Australia for the necessary testing by local engineers and large-volume buyers to get feedback.
“It’s clear the concept vehicle’s all-electric powertrain delivers the impressive torque you’d normally expect from a diesel engine.”
Toyota Australia sales boss Sean Hanley said as he drove the model
About the new Toyota e-pickup truck
Toyota initially introduced the EV counterpart of its iconic HiLux pickup truck model in 2022 during its 60th anniversary in Thailand, Electrek reported. However, it has yet to determine the launch of commercial sales.
Now, the imminent launch of the model in the Thai market will signify the automaker’s latest effort to compete with Chinese-made models in the local market.
According to the report, Toyota’s bz4X electric SUV sales were way behind BYD and Great Wall Motor’s models. Notably, Chinese electric automakers have been dominating the Thai market, with plans to invest some $1.5 billion in new domestic production plants.
In that sense, the Toyota Executive disclosed that the company will deploy a small batch of electric pickups across Pattaya in early 2024. They will apparently serve as “songthaews” or “taxis” in most Southeast Asian markets. He further noted plans to explore last-mile delivery services with the company’s e-pickup models.
“We will first start looking at public transit.”
Toyota Daihatsu Engineering & Manufacturing Executive VP Pras Ganesh told Reuters
Toyota’s presence in the Thai EV market
The report further indicated that Toyota claimed 39% of the Thai one-ton pickup truck market in the first three quarters of the year.
It is indeed a remarkable achievement, considering MarkLines’s report that pickup trucks contributed almost 50% of all vehicles sold in the country in 2022.
As for the overall auto segments, Toyota continues to defend its leading position with 34% of Thailand’s new vehicle sales.
Notably, Toyota, along with its group firms, has already allocated almost $7 billion in investment in the Southeast Asian country in the past ten years. That said, it is unsurprising that Toyota selected Thailand for the e-pickup trial program.
Toyota’s global BEV sales guidance fell by an astounding 39% for the current financial year ending March 2024, largely due to its limited model portfolio.
Notably, it is crucial for the automaker to expand in Thailand since it is its fourth-largest production hub after Japan, China, and the United States. The Hilux model will significantly aid the company in boosting its BEV sales in the local market and enable it to compete neck-on-neck with Chinese brands.
