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Toyota to invest Rs 3,300 crore in third Karnataka plant by 2026

Published Nov 21, 2023 23:20
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BENGALURU - Toyota (NYSE:TM) Kirloskar Motor (TKM) has announced plans to invest Rs 3,300 crore in a new manufacturing unit in the Bidadi district near Bengaluru, Karnataka. The new facility is part of Toyota's strategy to expand its production capacity in India and is expected to be operational by 2026.

The investment will increase Toyota's total investments in India to nearly Rs 20,000 crore. The new assembly line will be dedicated to producing vehicles based on the TNGA-C platform, which includes an SUV model. This expansion will bring Toyota's annual production capability in India to 4 lakh vehicles.

The move is aimed at addressing market demand and reducing waiting periods for popular models like the Innova Hycross hybrid MPV. The additional one lakh units annual production capacity will not only include Toyota's proprietary models but also Suzuki cross-badged variants such as Invicto and Grand Vitara.

TKM's initiative is poised to create approximately 2,000 direct jobs at the new plant. This contribution is significant as it adds to Toyota's overall employment impact of over 88,000 jobs across the country.

The establishment of the third plant near its existing Bidadi units signifies Toyota's commitment to the Indian market and its confidence in the region's growth potential. The automotive giant's continued investment underscores its efforts to meet consumer demand more efficiently and bolster its presence in the competitive Indian automotive industry.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Toyota to invest Rs 3,300 crore in third Karnataka plant by 2026
 

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