Toyota to build new Indian plant for low-priced cars by 2010 - report |
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Mon, 12 Feb 2007 03:26
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TOKYO (XFN-ASIA) - Toyota Motor Corp plans to construct a small-car assembly plant in southern India by 2010 for an estimated 40-50 bln yen, its second Indian manufacturing facility, the Nikkei reported, without naming sources.Toyota's Indian market share has remained at about 4 pct, relatively small for a company expected to soon become the world's largest automaker, the business paper said.The new plant -- to be built near the automaker's first Indian plant, which is in Bangalore -- will initially churn out 100,000 entry-level family cars a year, which at 800,000 yen will be the lowest-priced Toyotas. As a result, output capacity in India will roughly double.Toyota opened its first Indian plant in 1999, using it to produce the Corolla sedan and the Innova minivan. While about 50 pct of overall auto sales in India come from models priced at 1.3 mln yen and below, Toyota sells its vehicles for more than 2 mln yen.Consequently, Toyota produced only 37,000 vehicles in India in the April-December period, far below its full capacity of 100,000.mas
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