Toyota has said that plans to build a new factory in India are not “concrete”, but it is considering a new small car to tap increased demand in emerging markets.

“We don’t have any concrete plans for a new plant in India,” said Toyota spokesman Paul Nolasco. Nolasco also said that Toyota continually evaluates overseas expansion plans but no decisions on an Indian plant have been made.

Toyota’s remarks follow reports that Toyota plans to spend up to 50 billion yen (US $413 million) to build a new Indian factory. The new plant would be built near the company’s first assembly plant in Bangalore. The Nihon Keizai business newspaper said the second plant would initially produce 100,000 entry-level, family vehicles that would start around 800,000 yen (US $6,610), which would making them Toyota’s lowest-priced vehicles.

## Source: mlive.com ##

Posted in: Toyota, Manufacturing, Business, News, Asia
RSS 2.0 Feed | Comments | Permalink |  Email This Post