IPO-bound LG Electronics India begins work on new $600 million plant
May 8 (Reuters) - LG Electronics India has begun construction on its third plant in the country, the company and India's Andhra Pradesh state government, where the facility is located, said on Thursday.
The IPO-bound electronics manufacturer will invest $600 million in the plant located in Sri City, close to the South Indian city of Chennai.
The plant will generate direct employment opportunities for 1,495 individuals and indirectly employ 10,000 people.
The company's other plants are located in Greater Noida, Uttar Pradesh state, and in Pune, Maharashtra.
Reuters reported last month that the company's South Korean parent delayed the public float in India due to market volatility.
LG Electronics (066570.KS), opens new tab is now targeting launching the IPO of its Indian unit in the second or third quarter of fiscal year 2026, instead of May.
($1 = 85.0400 Indian rupees)
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Toyota Urban Cruiser prototype review: Toyota is still playing catch-up
Toyota is playing a canny game in the EV space. Its first model, the bizarrely named bX4X was co-developed with Subaru, while its latest model, the Urban Cruiser, is a joint venture with Suzuki. It's even built by Suzuki in its factory in India. So it's unsurprising that the Urban Cruiser has a Suzuki twin, the eVitara. The Toyota version is pretty much identical, with the same batteries, motor, interior and very similar looks on the outside. On our test drive, we drove a four-wheel drive version that did have something extra going for it: a modicum of off-road ability. Sadly, we're unlikely to get that. Instead we'll get a couple of two-wheel drive cars with either 49 or 61kWh batteries and unremarkable ranges of 214 or 265 miles. Charging speeds are similarly average. The Urban Cruiser has the looks to compete, on the outside at least. Inside, it's a generation behind the likes of the Kia EV3 and Renault 4 that it will compete against. Our car was a prototype with a few rough edges, but the hard plastics on top of the dash and doors feel like a step back in time compared with rivals' interiors. The Toyota is at least comfortable to drive and has a decent ride – but then so do rivals. And it has a novel sliding rear seat, which is handy. Rear space is good, but you'll need to slide the seat forward to get decent boot space. With the seat set back it's supermini sized. It's something of a shame as, being last to the party, you'd think Toyota would've looked at what others are doing and gone one step further. It seems Toyota are happy to be followers with a car that's biggest appeal is the potential of a ten-year warranty if you continually get it serviced at Toyota dealers. How we tested Our early drive of the prototype Urban Cruiser was on the urban streets around Madrid, with a few motorway runs and even a trip over a rough and ready gravel road. As usual, we climbed all over the car, checked on boot space and played with all the tech. Independent rating: 6/10 Toyota Urban Cruiser specs Price range: £27,000 to £35,000 (estimated) Battery size: 49 & 61 kWh Maximum claimed range: 265 miles Miles per kWh: tbc Maximum charging rate: 67kWh Battery, range, charging, performance and drive Although we're a little way off Toyota in the UK confirming trim levels, we do know that both the 49 and 61kWh batteries will be on offer, which offer a maximum claimed range of 214 miles or 265 miles in front-wheel drive cars. We understand it's unlikely that the all-wheel drive Urban Cruiser will come to the UK, which is something of a shame as its mild off-roading ability – alongside its chunky 4x4 looks – gives it a useful USP. We took it over a gravel road with some surprisingly deep ruts and it came through the test with flying colours. Those ranges aren't especially remarkable. The entry-level Kia EV3 with a 58.3kWh battery costs £33,005 and claims a maximum range of 270 miles – more than the bigger battery in the Urban Cruiser. The EV3 is also available at £36,005 with an 81.4kWh battery that will go for a hugely impressive 375 miles. Alternatively the new Renault 4 E-Tech costs from just £26,995, has a 52kWh battery and has a maximum claimed range of 247 miles. This is the world that the Urban Cruiser will be competing in, and it's a tough challenge. Charging speeds for the Urban Cruiser are disappointing, too. Even the Toyota representative we spoke to seemed a touch embarrassed by the 67kW fastest DC charging speed. An EV3 will charge at either 102kW or 128kW for the larger battery. For the Toyota that means a 10 to 80 per cent charge time of 45 minutes – time for that second cup of coffee, then. The Urban Cruiser does at least provide a comfortable ride – at least on the reasonably smooth roads we drove the prototype on in Spain. The steering is responsive enough and the handling secure enough – all considering that this is a family-friendly SUV. There's a fair bit of wind noise around the mirrors at faster speeds, but otherwise the Urban Cruiser is a fairly calming car to be in. There's one-pedal driving and eco, sport and normal driving modes. We found the sport mode to be best for a slightly heavier feel to the steering and quicker accelerator responses – the bigger battery version will get from 0-62mph in a reasonable 8.7 seconds. There's also a snow mode that we didn't get to try in the heat of Madrid. Interior, practicality and boot space Inside the Urban Cruiser, it's a mixed bag. The design isn't especially inspiring with lots of dark black plastics. Toyota has tried to liven things up with a different texture across the dash and on the doors, but a change in colour would've helped, too. At least there's some ambient lighting around the centre console and doors, which you can personalise with 12 colours and seven brightness levels. The quality of the plastics inside aren't great, though. We know that the cars we tested were prototypes, which accounted for a few sharp edges around the centre console, but we doubt the hard plastics on the dash and door tops, and around the door controls, are likely to change. There is plenty of room in the back, though, with doors that open wide and generous knee and foot room. The rear seats slide forward, too, which is handy because the boot space otherwise is just plain poor – a miserly 238 litres with the seats in their furthest back position with maximum legroom. Slide them forward when knee room becomes a bit tight and there's then 306 litres of space – still not exactly generous. Fold all the seats forward (and the rear bench has a 40:20:40 configuration ) to get a maximum of 562 litres. Those rear seats also house rather large headrests that don't fold down into the seats when not in use, limiting the view out of the rear window. Thankfully the door mirrors are nice and large, while the high-set driving position gives a good view forwards. There's not a huge amount of space for odds and ends, although there is room underneath the centre console, which has a couple of cup holders at the front, a single wireless phone charger tucked away even further forward under the dash, which all means the drive selector is a little too far back to be really comfortable. Technology, stereo and infotainment The days when Japanese car makers led on tech are long gone. The Urban Cruiser gets two displays within a single frame that runs from the driver's side across to the centre of the car. Within the frame are two 10in screens – one for the driver, which doesn't fill the frame, with the same happening in the centre for the multimedia touchscreen. With a sizeable bezel, it looks a bit like a plasma TV from the early 2000s. At least there's wireless smartphone connections with Apple CarPlay and Android Auto and the touchscreen is responsive and bright. There's also a MyToyota app that connects to show charging and operate the air con remotely, as well as door locking and unlocking. The air con also gets separate controls under the screen, but you'll have to go hunting for the seat heaters digitally. We're yet to find out what the specs will be for the Urban Cruiser in the UK, but LED head lights are likely to be available on Excel grade models, while the usual range of driver assistance and safety features will all be present, including adaptive cruise control and 360 degree cameras to help with low-speed manoeuvres. Prices and running costs Although prices have yet to be confirmed, we expect the Urban Cruiser to cross categories to compete with everything from the Renault 4 E-Tech at the bottom end to the Kia EV3 and Volvo EX30 at the top end. Our guess based on already-published European prices is a start at around £27,000 for the entry-level small battery car, up to around £35,000 for a top-spec, larger battery but still two-wheel drive model. Where the Toyota will really appeal will be with the warranty cover. Get your car serviced annually by a Toyota dealer or service centre and they'll keep the warranty intact for up to ten years. It's the same story with the battery. Rather than most brands' cover of eight years for the battery Toyota's Battery Care Program covers the battery for up to ten years or 650,000 miles, with an annual health check. Toyota Urban Cruiser rivals: FAQs How long does it take to charge? Too long is the answer. On a fast charger it will only charge at a maximum speed of 67kW meaning a ten to 80 per cent charge will take 45 minutes. How much does it cost - is it worth it? Toyota hasn't yet announced prices or trim levels, but given prices of the Urban Cruiser in Europe, we'd expect the car to cost from around £27,000 up to around £35,000 What's the battery and main warranty like? Toyota's Battery Care Program covers the battery for up to ten years or 650,000 miles, with an annual health check. The same applies to the standard warranty – if the car's serviced at Toyota service centres the warranty will run for ten years. Why trust us Our team of motoring experts have decades of experience driving, reviewing and reporting on the latest EV cars, and our verdicts are reached with every kind of driver in mind. We thoroughly test drive every car we recommend, so you can be sure our verdicts are honest, unbiased and authentic. The verdict: Toyota Urban Cruiser The Urban Cruiser is in for a tough ride against some talented opposition. It left me pretty unmoved, struggling to find a real differentiator. Maybe it's the short front and rear overhangs, which'll help on bumpier surfaces, although we're not getting the four-wheel drive versions. Otherwise, it's just not spacious enough inside or innovative enough.
