Toyota reportedly is considering building a new plant in an emerging market to make low-cost, small cars for such markets.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
An anonymous company spokeswoman told the Associated Press (AP) that the automaker, which recently announced plans to open a small car plant in India, is in the early stages of planning for a second factory in an emerging country but has not decided details such as the location, production capacity and timeline .
AP added that Tokyo’s Shimbun regional newspaper reported on Wednesday that Toyota is eyeing a factory in Brazil for a launch in 2011 to meet demand from the fast-growing car markets in South America.
Toyota already has a factory in Brazil which makes models such as the popular Corolla sedan, offered with a flex-fuel engine.
The paper said Toyota plans to invest tens of billions of yen in the plant, which would have a production capacity of about 150,000-200,000 units a year. The small sedan and hatchback models would be priced at around JPY1m (US$9,540; EUR6,170), the paper added, according to AP.
