Toyota Kirloskar Motor will invest Rs 1400 crore in its new compact car project and may invest an additional Rs 1200 crore over the next few years. The new compact car is being designed by both Indian as well as Japanese engineers. It is expected to go on sale in 2010.
The new compact car will be Toyota's cheapest car, but will not compete with the Tata Nano. Toyota is playing its cards close to its chest, but Mr Akira Okabe, Senior Managing Director and Member of the Board, Toyota Motor Corporation, has said that "There aren't many vehicles that are and safe to drive on the highways. We are thinking in this direction." Of course, there will be a corresponding price to it, but we're hoping that the car delivers everything that statement promises. An AE86 revival, anyone?
