Toyota to setup a manufacturing unit for small cars
It is now almost confirmed that the Japanese auto giant and the second largest auto maker in the world is now targeting the volume segment of small compact cars in the Indian market. The company is reportedly preparing an elaborate plan to take on the current dominating players in the market namely Maruti Suzuki, Hyundai, and Tata.
Toyota is said to be investing around Rs 800 crores in setting up a Greenfield car-making venture in India. This unit would be dedicatedly manufacturing small cars for the company in the Indian market. However, this new unit would be outside Karnataka where they currently have a unit making Toyota Innova and Toyota Corolla.
The company is talking with the various state bodies for such a possible manufacturing site. Toyota Motor Corp officials involved with the India project told a media group: “We are very close to finalizing our decision. Though we do have the option of expanding the current facility in Bidadi (near Bangalore) to set up the small car production lines, we are also actively looking at setting up a new venture altogether in a different state.â€
However, nothing is finalized yet and the company will not give out any concrete details on what the end consumer would see rolling out from the Toyotaâ€™s factories and when.