Toyota Designing 'Peoples Car' for Developing World
TOKYO, January 17 (Itar-Tass) - President of the Japanese automobile manufacturing giant Toyota Motor Corporation Katsuaki Watanabe has confirmed that his company is designing a small and inexpensive “people’s car” for Russia, China and other rapidly developing economies. It is to be put on the markets in 2010, Watanabe said in an interview published by the leading Japanese economic newspaper Nikkei on Wednesday.
In the words of the Toyota CEO, it will be a small car equipped with an engine having a one-litre capacity and at a price of about 6,000-7,000 US dollars. According to press reports, the “people’s automobile’s” design and other peculiarities will considerably vary depending on the country of sale.
Sources in another Japanese company Nissan said earlier that it is also actively studying prospects for the creation of an inexpensive mass car for Russia, India, China and Brazil.
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