Toyota to invest Rs500 crore in engine plant at Bangalore
05 Apr 2012
Japanese auto major Toyota yesterday said it planned to invest Rs500 crore in its engine plant at Bangalore this year, besides shipping its latest hatchback 'Etios Liva' and sedan 'Etios' to South Africa.
After flagging off a batch of 237 units of its petrol version of 'Etios' and 'Etios Liva' at the Ennore port today, Toyota Kirloskar Motor India managing director Hiroshi Nakagawa said the company hoped to export 20,000 units this year.
He told reporters that the company was looking at exporting 20,000 units this year. Besides South Africa, at present the company had no plan to export to other markets at this moment, he added.
The shipped cars would be positioned under 'sub-B segment' in South Africa, with the entry level priced at 116,000 Rands in the South African market, he said.
Regarding future plans, Toyota Kirloskar Motor deputy managing director (marketing) Sandeep Singh said they had set a target of selling 1.80 lakh units as against 1.36 lakh units sold last year.
Singh said the company would invest Rs500 crore in the engine manufacturing facility at Bangalore this year. The plant would also begin operations this year, he added.
