Toyota to build a $5,000 car for emerging markets?

According to some recent reports, the Japanese giant Toyota is planning on building a $5,000 car aimed at emerging markets. While Tata was in the center of attention with its Nano, its problems with the plants in India significantly delayed the project. Toyota wants to take advantage of that, and even though the car's pricing is much higher than the $2,000 Nano, the ultra cheap car from Toyota will probably be a lot better. According to Japanese newspaper Asahi, the car will be co-developed with Daihatsu and will be built in Bangalore, India, where Toyota already has a plant and plans on opening another one in 2010. The bad news is that the car won't make it into production until at least 2015. Toyota is not the only one carmaker trying to explore the emerging markets, with Renault-Nissan group already reaching an agreement with Indian company Bajaj Auto regarding a $2,500 car which is scheduled to be released by 2011. Source:MotorAuthority