Japanese auto major Toyota Motor Corporation plans to start producing its sedan Etios, which has been developed specifically for the Indian market, in Brazil by late 2012.
In a filing to the US Securities Exchange Commission, Toyota Motor Corporation said: “In August 2010, Toyota decided to construct a vehicle plant in Sorocaba, Brazil. This plant is expected to produce the Etios small vehicle introduced in India with an annual production capacity of 70,000 units. The plant is expected to commence production in late 2012.”
The company that is present in India through a joint venture with the Kirloskar Group, Toyota Kirloskar Motor (TKM) had launched the Etios sedan in India last December. The car has been a success with robust demand. Last month TKM had also launched the hatchback version, the Liva.
About 4,000 engineers have spent five years for developing the Etios. TKM officials have maintained that the priority of the company would be to serve the Indian market and exports would be secondary.
TKM has invested Rs 3,200 crore to set up its second manufacturing facility in Bangalore to roll out Etios, which is powered by a 1.5 litre petrol engine. The Liva is powered by 1.2 litre petrol engine.
With robust demand for the Etios, TK is expanding the capacity of the second plant production of the second plant from to 1,20,000 units from 70,000 units a year.
The company is currently producing about 6,000 units of Etios and Liva per month and it will be increased to 8,000 units a month by September.
This year TKM plans is to sell 60,000 units of both Etios and Liva, out of which, more that 20,000 units will be Liva.