Everybody is joining the race to produce a small car. With Tata already in the lead, now it is Toyota. The Toyota manufacturer is about to complete its small car project. The Yaris is to be launched in India first, like the Hyundai i10. This Toyota small car will also see developed markets like Russia, Brazil, and China.
According to reliable sources, Katsuaki Watanabe (President of Toyota Motors) has initiated the production of this low cost model and has directed his engineers to produce a car based on technology that is less pricy, without compromising on the aspects of safety and environmental-friendly features that are an integral part of the Toyota trademark.
The Yaris is almost complete, but it will not be competing with Tata’s “Nano” in terms of price. There is already speculation about Toyota’s plan to build a second manufacturing plant, with a production capacity of one lakh units, near the existing one in Bangalore. According to reports, the company plans to invest close to Rs 1,800 Crore for its second plant.