The Japanese automaker issued the warning after it reported a slump in quarterly profit this week on tumbling sales at its Indian unit, Maruti Suzuki.
The joint venture will subsequently have similar scrapyards in different parts of the country.
The tiny two-seat EV will offer a range of 100km when Toyota brings it to India in partnership with Suzuki.
Suzuki also mentioned that the new models will be more expensive by 10-15 per cent over the existing BS4-compliant lineup.
Toyota will take a 4.9 per cent stake in Suzuki Motor Corp. valued at 96 billion yen (USD 908 million).
The Suzuki GIXXER 250 is powered by a four-stroke 249cc engine mounted on an easy to handle.
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