The world's largest carmaker Toyota today said it will begin production of its concept car Etios by December this year and will price it competitively.
"Etios means spirit and principle. This car of ours is targeted at the middle level managers and young professionals and will be priced competitively," Toyota Kirloskar Motor (TKM) Managing Director Hiroshi Nakagawa told media persons after inaugurating the Toyota Q-World Auto show here.
The company would launch both hatchback and sedan under the Etios series with 1.2 litres and 1.5 litres petrol engines respectively, he said.
Nakagawa said though the price of the car would be decided before the official launch, its hatch back version would be in the range of Maruti Swift and Ritz, while the sedan version would compete with Tata Manza and Maruti Dezire in the B segment category.
The company, which is present in India through a joint venture with Kirloskar Group, has invested over Rs 3,200 crore to set up its second manufacturing facility in Bangalore for Etios with an initial capacity of 70,000 units per year.
"The manufacturing capacity is spread over 425 acre and based on customer response after the Etios rolls out, the manufacturing capacity of the plant could be increased to nearly 200,000 units per year," Nakagawa added.