Toyota Plans Indian Joint Venture

12/27/96

The Associated Press reports that Toyota will form a joint venture with an Indian firm to make passenger cars in India. The cars may be produced as early as next summer, said a company official.

Toyota spokesperson Keiko Kishi said that the concrete terms of the venture, including the amount of investment in the project and the type of cars to be produced, have not yet been finalized.

The company initiated a feasibility study in October with Daihatsu, a Toyota group company. Toyota's spokesperson says that the study was still under way, but added that Toyota is intends to go through with the project

The Japanese company's Indian partner will be Kirloskar group, a medium-sized Indian auto parts and industrial machinery manufacturer. The companies have yet to pick a location for the joint venture company.

Paul Dever -- The Auto Channel