Toyota Plans 2nd Plant for India
Submitted by Bill Belew on Tuesday, 15 April 2008No Comment
Toyota is interested in the growth opportunity that presents itself in India.
So much so, the company has a second plant in the works for India.
The plant will be up and running by 2010, rolling out some100,000 vehicles annually.
The subcompact Corolla and a new compact will be the key vehicles.
Toyota's first plant in India is outside of Bangalore, a joint venture with Kirloskar Group. The group makes the Corolla and IMV series minivan.
Last year 52,000 vehicles hit the street.
Toyota will spend Y35 billion ($343.1 million) on the new plant.
But, what everyone really wants to know from Toyota – what is ths the company's planned foray into the 'low cost car' market?
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