According to Toyota’s Chairman, Fujio Cho, Toyota is looking to launch a small car within in the next two years, and the first production facility may be in India.
The low-cost small car will be aimed at emerging markets and may even be considered for developed markets as well.
“We are thinking of several countries but maybe first production (unit will be) here,” Fujio Cho told reporters on the sidelines of an Indo-Japan business conference.
A source told Reuters that India is on the top of the list for global candidates for a site to build the cheap family car. Toyota currently owns 430 acres of land at their site in Bangalore, which is enough for a total annual capacity of 630,000 units if more plants are added.
Toyota sold 48,000 vehicles in India in 2006.
Flashback: At the 2005 Frankfurt IAA, Toyota unveiled a minicar concept called the Endo (pictured above).
[tags]Cars, Car, Auto, Automobile, Vehicles, Technology, Auto News, News, Automotive, Toyota[/tags]