Toyota is almost certain to pinch its presence in the Indian car market that it has plans to install an R&D centre and an engine unit here, according to the boss of the JV. The MD of Toyota Kirloskar Motor informed that Toyota is on the R&D study in Japan and Thailand along with other major nations and India will follow suit soon. At the recently held Global Investors’ Meet at Bangalore he said that given a chance, the company would erect an engine plant in the country if the sale volume reached 20000 units per year.
Toyota’s second plant, at an investment of Rs3000 crore is in the offing in which there are 2000 employees pressed into job. The JV’s target for the present calendar year is 70000 units an increase of 15000 from its 2009 volume. He indicated that the fresh version of Etios for India is on the developing stage and it may roll down in this December or in the early 2011. After establishing this car in the domestic market, Toyota, he hinted, would go in for the potential export markets. Toyota anticipates to produce 70000 units of Etios during the beginning year of its launch.