Toyota fast-tracks its compact car programme in India
07 Aug 2008
Mumbai: Toyota is testing a Yaris lookalike small car on the Indian roads and has engaged over 50 engineers at its compact car project in Chennai to speed up its commercial launch.
Toyota, which aims to push up its market share in India to 10 per cent by 2015, has, however, not announced any definitive plans for the launch of its compact car.
''All our products along with the small car, we are expecting to increase by 10 per cent,'' a company representative said.
The new compact car is currently under development at Toyota Motor Corporation's R&D division in Japan and about 50 Indian engineers are working in the development of Toyota's compact car to be launched in India, Hiroshi Nakagawa, managing director of Toyota Kirloskar Motor (TKM), said.
He said Toyota is planning to bring out a sedan and a hatchback in the proposed compact car segment.
Toyota, he said, would initially source components from its facilities outside India, gradually adding local content to make the car competitive. TKM is also looking at manufacturing engines for the compact car in India, he added.
Toyota , meanwhile, is planning to double its investment in a new manufacturing facility it is building, which, when completed, will see Toyota's small car roll out from its stable.
Toyota Kirloskar Motor is currently setting up a second manufacturing facility in Bidadi, near Bangalore, at a cost of Rs1,400 crore, next to its existing plant, which, when completed, will employ 2,400 people and have an annual production capacity of 1,00,000 units. The second plant is expected to become operational by 2010 and Toyota would double its investment 3-4 years from then.
.webp)
