Toyota bullish on India

Even amidst the slow growth in auto sector, Toyota has decided to step up the planned investment for its second plant in Bangalore. According to an announcement made on Wednesday, Toyota has decided to invest about 68 billion yen (Rs 3,200 crore) in the second plant currently under construction. Earlier, a decision was made to invest about 35 billion yen (Rs 1,647 crore) for the buildings and basic equipment for this plant and an additional 33 billion yen (about Rs 1,553 crore) for both general-purpose and specialised equipment necessary for manufacturing a new ‘compact vehicle’ or a small car meant for BRIC markets.

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