Indus Motors Co. Ltd is a Pakistan auto company. Toyota just purchased a 12.5% stake in the company for $53.3 million. Quick mater = makes the company worth about $425 million, right? For someone like Bill Gates, that’s pocket change. Gosh, some sports figures could pony up that much. Can you say Tiger Woods?
Toyota is keen to gain more traction in the subcontinent and this purchase gives them a 25% stake overall in Indus. The stocks were bought from Overseas Pak Investors AG and through a public offer. I wonder why Toyota didn’t just buy the whole company outright? They surely have the money.
In the meantime…another Japanese car maker, Suzuki, is number one in the area. But, Toyota is coming…Toyota is coming….
Apparently Toyota is testing their 2010 Avensis model in Scandinavia and our friends from WorldCarFans managed to get some spy shots for us. Rumors say that the 2010 Toyota Avensis may be presented next year in 2009 during the International Motor Show in Geneva.
To be honest the new design is much better with a styled front part and a better looking rear that makes it a very good choice in its class. Toyota is supposed to bring a hybrid engine with all-wheel-drive and a diesel hybrid in 2010 on the new Avensis and it’s said to feature a high mounted gear lever.
Three weeks before the start of the 2008 Formula One Championship and Jarno Trulli just announced that he thinks Ferarri is going to win it this year. He doesn’t give other any chances and says “the championship already looks over to me before it has started”. The guy tested Toyota and Ferrari cars in Bahrein and is very happy with what the new F2008 is offering being noticeable quicker (half a second quicker).
On the other hand, Trulli said that for Toyota’s TF108 is “unrealistic to talk about podiums.”
Toyota is very active in the small segment and things are going to stay that way. The company just announced that the new Toyota iQ is going to be revealed during Geneva Motor Show next month. It’s about 3 meters long, big enough for three adults and some luggage and very safe (they say). Toyota will also bring the Urban Cruiser to make its European debut.
Do you like the iQ?
Weâ€™ve done it again! Car blog brings you exclusive spy photos of an undisguised next generation Toyota Pick-Up and it is definitely a stunner. Caught by spy photographers somewhere between the Blue and White Niles in eastern Sudan, Africa, the yet unnamed Pick-Up is powered by an innovative, eco-friendly animal-train thatâ€™ll subsequently replace Toyota & Lexus hybrid powertrains in the very near future. A Toyota representative revealed to Car blog in an off-the-cd conversation that the Japanese automaker has been reviewing two different types of animal-trains but declined to say what the second one was. Stay tuned for more info on this breaking story.
In South Africa, acts like murder, treason, or plotting to overthrow the government rank among the most heinous crimes a person can commit. In Italy, stealing secrets from Ferrari ranks right up near the top of the list, too.
Following a long, drawn out process, two former Scuderia Ferrari engineers, who stood accused of stealing secrets from Maranello and giving them to rivals at Toyota F1, have been convicted. Pending appeal, Angelo Santini was sentenced to nine months and Mauro Iacconi to 16 behind bars on charges of industrial espionage. They left the Italian based supercar manufacuter and joined Toyota F1.