Lexus launches hybrid sedan in India at Rs1.77 cr

The company, which entered the Indian market last March, said it is looking at the possibility of assembling its vehicles locally by leveraging on parent Toyota's facility in Bengaluru as an option.

It also made a strong pitch to the government to provide support to hybrid vehicles in India's journey towards full electric vehicles.

"There is a lot of opportunity in the Indian luxury vehicle market, which is among the biggest in our region. We are looking towards growth trajectory here," Lexus Asia Pacific Division Executive Vice President Vince Socco said.

When asked if the company would consider assembling its vehicles here, he said that at present it is studying the option, but would be difficult to put a timeline to it.

"Globally, outside of Japan we have two manufacturing facilities, one each in Canada and the US, which accounts for 50 per cent of our total global sales, " Socco added.

For the Indian market, he said a lot would depend on sales volumes and availability of local components among others being key factors.