Toyota to build new plant in India by 2010: Nikkei Sangyo Shimbun
12 Feb 2007
According to the Nikkei business daily, Nikkei Sangyo Shimbun, Toyota Motor Corp. plans to build a new plant by 2010 concentrating on inexpensive, small model cars in Karnataka, near its existing plant close to the state capital, Bangalore.
The report says, the new plant, to be built at a cost of between ¥40 billion and ¥50 billion (approximately between Rs10.97 billion to Rs14.6 billion), would target a production of 100,000 cars a year, roughly doubling its manufacturing capacity in India.
According to Reuters, a Toyota spokesman said the company did not have any such concrete plans at present but stopped short of saying the report was incorrect.
Toyota has already toppled Ford as the world's second-largest carmaker and is all set to overtake it in the US market as well, besides shortening the lead with the world's largest carmaker, GM, in global sales.
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