Toyota set to invest $340m in Bangalore low-cost car plant

Toyotais set to invest $340m in a second plant on the outskirts of Bangalore that will produce its planned low-cost car. The move will improve the Japanese carmaker's position as it jockeys for business in one of the global industry's fastest-growing and most strategically important markets. India, with its large pool of first-time carbuyers and cheap engineering and manufacturing skills, is emerging as the car industry's biggest new centre of low-cost production. Renault, General Motors, and Suzuki all produce low-priced vehicles in the country.