Japanese auto major to invest Rs. 1400 Cr & introduce small cars by 2010.

Toyoto motors corp will invest $350 million (about Rs. 1400 crore) for settings up a second plant in India as part of its plans to introduces a ‘strategic’ small cars in the country by 2010.

Ending months of speculation over the second plant, Toyota, which runs the Indian operation through a joint venture, with the Kirlosakar Group, has decided to set up the new plant at its existing location in Bangalore.
“We have decided to build the second in Bangalore at the site of the existing facility with the investments $350 million,” Toyota Kirlosakar Motor (TKM) deputy managing director K K Swamy said.

The new plant will have a production capacity of 1,00,000 units and will become operational by 2010, he added. The company’s current plant has a capacity of 63,000 units a year.
TKM has been scouting for a location for months and finally zeroed in on the existing location to drive synergies with the existing operations.
“From this plant, we will roll out a strategic new small car which is currently under development at our Japan R&D facility. The small will meet the broads needs of the Indian customers, ” Swamy said.
The new small car, which will have high localization level, is primarily aimed at the Indian market although some of it will be exported, he added.
Toyota had in the past declared that it would capture 10 percent of the Indian car market by 2010 and the new car is expected to play a key role in it.
Asked about the pricing and positioning of the small car, he said it would not be at the ‘Nano’ range nor it would be too expensive. “Currently, the product (small car) is under development and it is difficult to talk about pricing but we do have the excise duty benefits in our mind,” Swamy said

2008 is special for Karnataka’ poll scape. With the assembly election becoming a hotbed for news, views and responses, the internet has become the key political battleground.

Popular video sharing tools like youtube.com are full of such responses videos, with more and more being uploaded everyday.
For example, a video site is dedicated to Sushma Swaraj’s Kannada skill and it states, “Thanks to historical Bellary parliamentary election where Sushma fought against Sonia Gandhi…”.
Another video on Electronic Voting Machine (EVM) evaluates voters on how to use EVMs. This is coupled with an election officer addressing a media conference on the model code of conduct on election rules and regulations. Interestingly, the poll bonanzas offered by various political parties find separate videos. Following the success of populist measures, parties here have decided to announce the same in Karnataka.
For example, the Dravida Munnetra Kazhagam (DMK) had promised colour TVs in Tamil Nadu if voted to power while in the neighboring Andhra Pradesh, rice at subsidized price had caught the fascination of voters.

With similar poll bonanza being offered to voters here, one can find many video sites dedicated to poll promises.
Nishchal, a student says, “Vidoe sites are user-friendly. With the younger generation glued to sites. It is better for them to browse and download the videos instead of attending political rallies or meetings”.
However, Anant Narayan, a techie and YouTube freak, says, “In the USA, the YouTube features speeches of candidates and responses. However, theis trend is yet to catch up here. Another missing link is the demand from the voters as to what they expect from the candidates.”

Source: bangalore mirror