Toyota Etios to be launched in India by early 2011
Japan based World's largest car maker Toyota Motors has announced that it will launch its much awaited compact hatchback Toyota Etios early next year. Mr Hiroshi Nakagawa, Toyota Kirloskar Motor Ltd (TKML) Managing Director, told reporters on Friday that Etios, which has been specially designed and developed for the Indian market, will be launched in the first quarter of 2011, as company's second plant is scheduled to go on stream by this year-end.
TKM is a joint venture between Japanese auto giant Toyota and India based Kirloskar Motors. The company has recently established its second manufacturing facility at Bidadi, about 40 km from Bangalore with an investment of Rs 1,400 crore. The Bidadi Plant has a yearly production capacity of 1 lakh units.
According to Mr Nakagawa the company is now considering India as an option to open its new RD facility and the proposal is under discussion as of now. While commenting on the possibility of opening an engine plant in India he said that the company will establish the engine plant only after its sales in India crosses 200,000 units mark. The engine for Etios, however, will be imported from Toyota's global manufacturing plant in Japan, as the volumes are small to produce them in India, he added.
The Toyota Etios, which was showcased at the Delhi International Auto Expo in January this year, will be launched in a hatchback version (with 1.2L engine) first, and a sedan version (with 1.5L engine) will follow after a few months. The Company is hiring around 2000 employees at its second plant in Bangalore where the company is investing about Rs 3,200 crore. TKM is aiming to sell 70,000 units of Etios in first ayear of its launch in India.
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