Toyota to pump in Rs 800 crore in India
Toyota Motor Corporation (TMC) is all set to invest another Rs 800 crore towards expansion activity in India. The company will be investing this sum of money towards capacity expansion at its existing plant near Bangalore and also towards setting up a second manufacturing facility from where it will roll out its first small car for the Indian market.
Toyota, which has already invested around Rs 3,000 crore in India, currently manufactures the Innova MUV and Corolla sedan in the country, while it also sells the Camry and Land Cruiser, which it imports as CBUs.
In recent years, Toyota's arch rival Honda has stolen a march over Toyota in the Indian market. While Honda has gone ahead and launched mass-market cars like the City sedan and Jazz hatchback, Toyota still doesn't have a small car offering despite having been present in India for a decade. Also, the Honda Accord is much more reasonably priced than the Toyota Camry, while Toyota doesn't have a small SUV to counter the Honda CR-V in India.
How Toyota rejigs its product portfolio will probably decide whether it can take on Honda on an equal footing in India, over the next few months/years.
[Via: indiaautomotive]