The Federal Government revealed it would help Toyota by giving it $35 million from its $500 million Green Car Innovation Fund, money Toyota said could help subsidise the higher cost of the hybrid.
Premier John Brumby joined Toyota executives and staff at Altona yesterday to celebrate the announcement, but refused to reveal how much Victorian taxpayers would be kicking in to the project.
It's also unclear how many jobs the new production line will create.
Prime Minister Kevin Rudd, who was at Toyota's headquarters in Nagoya yesterday for the announcement, said the new Camry hybrid would use 30 per cent less fuel than a conventional Camry, saving an average family who drove 20,000km a year $1000 from its annual fuel bill.
Mr Rudd called the hybrid plan a "significant coup".
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