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Toyota to build new plant in India by 2010
By agencies
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Monday, 12 February 2007, 18:30 IST
BANGALORE: The world's No. 2 car maker, Toyota Motor Corp plans to spend between 40 and 50 billion yen, or $330 - $413 million to build a new plant by 2010 in southern India, the Nikkei business daily reported on Monday.
It would be the company's second plant in the country and would be built close to the company's first plant near Bangalore. The potential output for the new plant would be 100,000 entry-level cars priced at 800,000 yen, or $6,610.
Toyota sold 48,000 vehicles in India in 2006, including the seven-seater Innova and the Corolla and the imported Camry sedan and Prado sport utility vehicle.
India is one of the world's fastest growing markets besides China. Toyotas rivals Suzuki Motor Corp and Honda Motor Co. have a sizeable presence and are expanding capacity.