The world's largest automaker is looking to join Tata Motors and Renault's Dacia brand as purveyors of cheap new cars. Toyota has cultured a company model by building high-quality, reliable cars, and has gone upmarket with its Lexus brand to compete at the high end of the automotive spectrum. More recently, the automaker has attempted to target a younger crowd with its Scion subsidiary and now a fourth brand is being considered to cater to emerging markets wihtout sullying the Toyota's hard-fought image. The new car would be targeted at the Indian and Brazilian markets, and would likely be made at Toyota's plant in Bangalore. Toyota is rumored to be partnering up with Daihatsu, another subsidiary of Toyota, that specializes in Japanese Kei cars for the new inexpensive model. If it indeed does happen, expect the new vehicle to make its debut by 2015.

[Source: Automotive News - sub. req'd]