April 20, 2024

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[THE INVESTOR] Following the domestic introduction of Hyundai’s Ioniq plug-in hybrid earlier this year and the recent domestic unveiling of the Chevrolet Bolt EV at the Seoul Motor Show, the new Toyota Prius Prime plug-in hybrid is looking to be the next contender in the country’s rapidly growing green car industry.

The Japanese automaker unveiled its Prius Prime plug-in for first time in Korea on March 31, prior to the opening of this year Seoul Motor Show, highlighting the vehicle’s fuel efficiency and sleek design. 

The new Toyota Prius Prime plug-in hybrid. Toyota Motor Korea

“In its 20th year, the Prius has achieved total global sales of more than 4 million units,” said Yoshida Akihisa, president and CEO of Toyota Motor, during a press conference held at the Lotte World Mall in Seoul on April 11.

“Now it is time for us to introduce the new Prius Prime, an environmentally friendly car that goes beyond the original Prius,” Akihisa added. “With Prius Prime plug-in hybrid, Toyota Korea is looking to open up a new era of smart eco-life.”

Compare to the model’s previous hybrid version, the new plug-in hybrid bumps up its fuel efficiency by approximately 60 percent. With its 8.8-kilowatt-hour batteries, the model can go about 40 kilometers with its electric motor and can accelerate up to 135 kilometers per hour. However, combining both the electric and hybrid modes allows the model a total driving range of up to 960 kilometers.

With the Korean government fast-tracking its plans to boost the number of electric vehicle charging stations nationwide, the local eco-friendly car market is expected to continue its upward growth. Earlier this month the Ministry of Land, Infrastructure and Transport announced plans to build around 200 charging stations by 2025. 

“Owning a hybrid in Korea is no longer an issue as the number of charging stations in Korea is growing,” said Kang Dae-hwan, sales and marketing director of Toyota Korea, adding that owning a hybrid still offers the comfort of switching to the gasoline mode for long-haul travels.

Along with its long-range fuel economy, the car also features wireless smart phone charging and a double bubble rear window that allows for extended passenger head space.

The starting price of the new Prius Prime plug-in is listed at 48.3 million won ($42,100). However, according to Toyota Korea officials, local consumers can qualify for government tax breaks of up to 7.7 million won. 

By Julie Jackson/The Korea Herald (juliejackson@heraldcorp.com)