Toyota's second plant in India to start by end of 2010
According to Reuter's report, the Indian unit of Japan's Toyota Motor Corp is expected to start production at its second car plant by the end of 2010. Mr H Nakagawa MD of Toyota Kirloskar Motor Pvt Limited said that the company, which offers the Innova utility vehicle, Corolla and Camry sedan in India, hopes to sell more than 50,000 units in the country.
Mr Nakagawa said "We would like to maintain what we did last year." Toyota sold 51,500 vehicles in India last year. Toyota holds 89% in the Indian venture, which has an annual production capacity of 60,000 units from a factory in Karnataka. The second plant is coming up with an investment of approximately USD 700 million & will have a capacity to produce 100,000 units annually.
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