The company is planning to zero in one of these institutions to sell the MPV through instalments. However, Toyota-Kirloskar is not contemplating any financing joint ventures. ``The company is yet to frame the finance schemes,'' Toyota-Kirloskar Motor deputy managing director KK Swamy told The Financial Express.

Since the talks are in the preliminary stages, Swamy declined to name the proposed partner. ``Although the company is ready to sell Qualis in instalments, we won't take the advance booking route in keeping with our marketing strategy,'' he added. The company, which would roll out its premium vehicle in Delhi on January 11, has tentatively fixed a price band between Rs 5 to Rs 7.5 lakh for Qualis. The final prices for different variants would be fixed on the eve of the launch.

The pricing of Qualis is likely to be driven by the market. With Qualis, the company is taking on the entire competition including Tata Sumo and Mahindra and Mahindra's Armada. Although the sticker may be on the higher side, Toyota Kirloskar is planning on an array of additional features to pull in buyers. The Qualis is available in 8-and 10-seater models in the diesel version that will be launched in the first phase. In the 8-seater model, all 3 rows face the front. The company is likely to offer the Qualis in more than 10 models including a special one for the farm segment in the second phase of its operations. The model for farmers is expected to have low-priced airconditioner and washable seat covers.

The company has already appointed 24 dealers in 21 cities, where showrooms are being readied for the launch. The company would kick off the commercial production of the MPV from the first week of December at its facility at Bidadi in Karnataka. It has targeted a production of 20,000 MPVs during the first year of Qualis launch. Toyota-Kirloskar has also shifted its corporate office from Bangalore to Bidadi.

The target for localisation has been set at 55 per cent in the first year which would be over the DGFT threshold of around 50 per cent to be achieved in three years. The company expects to achieve localisation of 70 per cent within the stipulated time frame of five years. Toyota-Kirloskar Motor is a joint venture between Toyota Motor Corporation and the Kirloskar group.

Recently, Toyota obtained the nod from the Foreign Investment Promotion Board to increase its stake in the venture to 87 by bringing in additional investments of Rs 78 crore.