New Delhi : Vehicle manufacturing company Toyota Kirloskar Motor (TKM) is going to set up a new plant for the production of vehicles in Karnataka at a cost of about Rs 3,300 crore. This will be its third plant in India, which will be completely greenfield. For this the company has also signed a Memorandum of Understanding (MOU). This new plant of the company will become operational from 2026. The company says that after the commissioning of this plant, Toyota Kirloskar Motor will cross the production figure of about one lakh units in a year.
New plant to be set up in Bidadi, Karnataka
Car manufacturing company Toyota Kirloskar Motor said that it is going to set up its new plant in Bidadi, Karnataka. It will be launched in India on the occasion of completion of 25 years of the company. Apart from the upcoming models of the company, cars like Innova Highcross and Highrider will be manufactured in the new plant.
Two thousand people will get employment
Toyota has said that it will invest about Rs 3,300 crore to build the new production plant in Karnataka, which will be its third production plant in India. Along with this, this plant has been claimed to create employment opportunities for about 2,000 people. The Japanese carmaker has claimed that the decision to set up the new manufacturing facility has been taken as part of the auto company’s strategy to increase local production in India.
Toyota Kiloskar currently has two plants in India.
At present, Toyota Kirloskar cars are already being manufactured in two plants in India, whose annual production capacity is about 3.42 lakh units. The car manufacturing company has planned to work in two shifts in the new plant, which can be extended with a third shift if needed. At present, the carmaker’s two production facilities are working in three shifts to fulfill the pending orders.
India important market for Toyota Kirloskar
Regarding the new production plant, Masahiko Maeda, Chief Operating Officer of Asia region of the car manufacturing company, said that the Indian market has always been very important for the company. He also said that Toyota hopes that this new production plant will enhance the company’s ambition to grow in the Indian market and globally. He also indicated that the new plant will play an important role in the brand’s strategy to manufacture cars equipped with green powertrains.