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Toyota is planning on building a low-cost car stated Katsuaki Watanabe, Toyota’s President, in an interview with Britain’s Financial Times. “The focus is on low-cost technology.” Watanabe declined to talk about the price of the car but said it would be “at least” less than the Renault’s Logan which the company hopes to compete with.

Renault has started production of the Logan, which will cost from 5,000 euros (6,200 dollars) on up, touted as a budget model for consumers in emerging economies such as China and Russia that conforms to European standards.

“Everything from design to production methods will be radically changed and we are thinking of a really ultra-low-cost way of designing, using ultra-low-cost materials, even developing new materials if necessary,” he said.

Source: Breitbart (via automotoportal)

[tags]Cars, Car, Auto, Automobile, Vehicles, Technology, Auto News, News, Toyota[/tags]

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