Australia's first locally-built hybrid car rolled off the assembly line this morning at Toyota's Altona Plant.
The hybrid version of the Toyota Camry will hit the market early next year marking the beginning of a new, greener era for the local car industry.
All three Australian manufacturers have made commitments towards rolling out more fuel-efficient cars over the next two years, with Holden to start production of a small car by the end of next year and Ford to build a four-cylinder version of its Falcon from 2011.
The Hybrid Camry will be around 30 per cent more fuel efficient and will cut emissions around 30 per cent than a standard Toyota Camry.
The production capacity for the Hybrid Camry is more than 10,000 vehicles each year which will mostly be sold in the domestic market with around 300 to be exported to New Zealand.
Production of the vehicle is expected to infuse around $90 million into the Victorian and South Australian automotive parts industries and support jobs at Toyota's suppliers.
The Australian government has extended $35 million in funding from the Green Car Innovation Fund to the initiative. The Victorian government has also made a significant contribution.