Japanese auto giant Toyota Motor Corporation and its fully owned subsidiary Daihatsu Motor have announced that both will create a budget brand on January 1, 2017, for emerging markets. The new internal company is named as 'Emerging-market Compact Car Company'.
The President of Daihatsu will be appointed as the Chairman of the new internal company and Toyota Managing Officer Shinya Kotera is to be appointed as the president.
There won't be a new badge for the company, but both of the companies will share their knowledge on small cars to develop a complete package. The new models from the internal company would benefit from Toyota's TNGA platform.
The main objective of the Emerging-market Compact Car Company is to establish work processes untethered by conventional practices and rules and to introduce competitive cars and also to develop high-quality affordable products based on Daihatsu's approach.
The internal company consists of three divisions: the Emerging-market Compact Car Product & Business Planning Division, the Emerging-market Compact Car Product Planning Division and the Emerging-market Compact Car Quality Planning Division.
The responsibility of product and quality planning is on the shoulders of Daihatsu, while the product and business planning division will be shared. In the list of emerging markets, India is surely included and according to some reports Toyota bringing is some more small cars which it has jointly developed with Daihatsu.
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