World's largest car maker Toyota today launched its much anticipated entry-level sedan Etios in India, priced between Rs 4.96 lakh and Rs 6.86 lakh (ex-showroom Delhi).
The company, which is present in India through a joint venture with the Kirloskar Group, is investing Rs 3,200 crore to set up its second manufacturing facility in the country to roll out the car.
"This is my first visit to India in the last four years. This historically marks a new chapter for Toyota in India," Toyota Motor Corporation President Akio Toyoda told reporters here.
About 4,000 engineers have spent five years for developing the car, he added.
The company has has launched the car with a 1.5-litre petrol engine, with plans to introduce a small car variant of the model with 1.2-litre petrol engine next year.
Toyota Kirloskar Motor (TKM) aims to capture 10 per cent of the Indian car market by 2015, mainly on the back of Etios. Over 15 lakh cars were sold in the country in 2009-10.