Toyota plans to set up a new plant

Toyota Motor Corporation plans to set up another plant with a capacity to manufacture 1 lakh units per annum at its existing site in Hosur.

The plant will be operational by 2010. The company currently has a joint venture Toyota Kirloskar Motor Private Limited (TKM), which manufactures utility vehicle Innova and Camry from its existing plant with a capacity to produce 60,000 units annually.

According to the plan, the second plant will produce passenger vehicles, including the Corolla as well as a new strategic small car, which is being developed with the aim of meeting the broad needs of customers in India.

TKM had earlier said that it wanted to capture 10 per cent of the growing Indian market by 2010 and to launch a small car is the key in its strategy to attain this goal. India remains largely a small car market with 70 per cent of the cars produced being categorized so and is dominated by Maruti Suzuki India Ltd.

Toyota hopes that promoting business activities deeply rooted to the local community in India, which is a country with great potential, will be a positive contribution not only to the development of the automobile industry in India but also to the development of its overall economy and job creation.

For more information on car loan click on the link http://www.apnaloan.com/car-loan-india/index.html