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Toyota to design a car for Russian market · 2007-01-18 17:20

Toyota logoToyota has officially confirmed the intention to design a car for Russia that will cost $6,000 to $7,000, Kommersant informed.

Toyota will design a new car for emerging markets, including Russia, Toyota President Katsuaki Watanabew told Nikkei yesterday. The sales are planned to begin in 2010.

So, Toyota will soon become the fourth automobile consortium to sell low-cost cars in the country after Renault, Volkswagen and Nissan.

Mr Watanabew didn't specify the location of the plant to assemble a new model, although Toyota's facilities in St. Petersburg are estimated to reach full production capacity exactly by 2010.

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