Toyota to invest further in Etios
Toyota Motor Corp is further planning to expand its market share in the Indian market by introducing its small car model Etios. The car will be launched by the end of this year. Toyota is about to complete its second phase investments in India. The company’s expansion plans start with the launch of its small car. Toyota has also got plans to start another manufacturing unit in India for manufacturing the engines in Etios, company’s small car.
Toyota Motor Corp is further planning to expand its market share in the Indian market by introducing its small car model Etios. The car will be launched by the end of this year. Toyota is about to complete its second phase investments in India. The company’s expansion plans start with the launch of its small car.
Toyota has also got plans to start another manufacturing unit in India for manufacturing the engines in Etios, company’s small car. This step will make the car even more cost competitive in the Indian market. The company has also selected a 20 acres area for this manufacturing unit. This land is close-by to the Bidadi plant of the company. Vikram Kirloskar, vice chairman, TKML and Hiroshi Nakagawa, managing director, TKML also confirmed the possibility for the expansion in Bangalore.
An investment of Rs 500 crore will be done by TKAP (Toyota Kirloskar Auto Parts) in Bidadi for setting up a petrol engine and transmission manufacturing unit. This new unit will have the capacity to produce 100,000 petrol engines starting in the third quarter of 2012 and also 240,000 transmissions a year from early 2013. The plant will also employ around 500 new employees.
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