Toyota considering independent venture


Oct 29, 2004
Hinting strong ideas about launching a small car in the Indian market, Toyota has expressed that they are looking into starting an independent venture for launching such a vehicle in India. The company is studying multiple options for entering the burgeoning compact car market in India. The most popular one is setting up a completely new venture with its subsidiary Daihatsu.

The company just launched a renovated version of their highly regarded Toyota Corolla model here and now plans to invest $89 million for entering the compact car market to take on heavyweights like Maruti and Hyundai offering products like Suzuki Swift and Getz in the market. A new source said: “The final decision on the entry route, the particular model slated for India and other finer details will be taken over the next 2-3 months. The new compact car will be commercially available in India only by 2007.”


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