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Adrian PatonAustralian-built Toyota Camry Hybrid in 2010
June 10th 2008 06:00
Japanese car maker Toyota has announced today that they will begin building a hybrid version of the Camry sedan at its Melbourne-based Altona plant within the next 18 months.
In return, Toyota will receive a $35 million subsidy from the Federal Government as part of the Green Car Fund. The news was announced by Prime Minister Kevin Rudd - in Nagoya, Japan - and Victorian Premier John Brumby at Altona in a simultaneous announcement.
The announcement marks an important moment for the Australian car industry which now joins Japan and the US as part of Toyota's hybrid family.
The Victorian Premier said 10,000 hybrid Camrys are expected to be made at Altona each year from the start of 2010 thus increasing the total production of cars at Altona above the 150,000 mark annually.
This in turn will create more jobs for Victorian car workers.
"With car manufacturers moving on a global scale to produce green, fuel-efficient cars it is crucial that the Victorian auto industry secures a slice of this investment, which will add $150 million annually to our economy,'' Mr Brumby said.
Inevitably, the hybrid Camry would be more expensive than the regular model but the price of the vehicle should be kept low and competitive if the $35 million subsidy is factored into the equation.
[Source: Toyota via SMH.com]
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