World’s second largest car maker Toyota Motor Corporation (TMC) has joined the small car bandwagon. After producing a range of utility vehicles and premium sedans during its decade long stint in India, it plans to debut its new global compact sedan by 2010. It is setting up a new manufacturing facility by investing Rs 1,400 crore to initially produce 1 lakh cars annually.

Making India the hub for small car manufacturing on the lines of Japan’s Suzuki Motor Corporation and Korea’s Hyundai Motors, Toyota plans to export the proposed car to overseas markets. TMC, which operates in India though the joint venture Toyota Kirloskar Motor Private Ltd (TKM), with a majority 89% stake, will manufacture the strategic small car at its 430-acre Bidadi plant in Karnataka

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