Masakazu Yoshimura of Toyota throughout the Toyota Camry launch in India in 2019. Pic: Kamal Narang
| Photo Credit: KAMAL NARANG
To mark 25 years of its operations in India, Toyota Kirloskar Motor Private Ltd. (TKM) has introduced fresh investment of ₹3,300 crore to set up a new plant (Plant 3) in the direction of its subsequent spherical of development in one of the fastest-growing vehicle markets in the world.
The firm on Tuesday signed a Memorandum of Understanding (MoU) with the Karnataka Government to set up this plant with a capability of 1 lakh items a 12 months at its present location of Bidadi close to Bengaluru by 2026.
In 25 years, TKM group firms have cumulatively invested over ₹16,000 crore in India.
Initially the plant, to be funded fully from worldwide accruals, will function in two shifts and would supply employment to 2,000 workers.
The firm presently operates two vegetation with a complete manufacturing capability of 3,42,000 items each year and has an worker base of 11,500.
“The Indian market has always been of great importance to us,” Masahiko Maeda, CEO, Asia Region stated in a press release. “We are confident that with this new investment in India, we will further elevate TKM’s role in our global vision for a more promising future by creating sustainable mobility solutions that enrich people’s lives worldwide,” he added.
Speaking on the event Masakazu Yoshimura, MD & CEO, TKM stated, ”As a future-ready mobility firm, we’re sure that the new plant will positively contribute by way of consequent employment era and develop adoption of superior clear applied sciences.”
The firm stated that this investment is part of its continued long-term dedication for constructing upon the 25 years of its historical past by contributing towards the following 25 years of manufacturing in India.
TKM, which has been skilling college students from economically challenged backgrounds, has now dedicated to practice and make use of extra girls in the store ground in the direction of bringing in variety.
In all these years the corporate has bought over 2.3 million automobiles in India and the long run focus stays to introduce clear and greener applied sciences for India.
“Looking ahead, Toyota will continue to focus on building ever better and greener cars thus delivering ‘Mass Happiness to All’ for meeting evolving customer needs by adopting multiple pathways to enable energy shift away from fossil fuel and aiming for CO2 mitigation in the fastest possible manner,” the corporate stated.
(The author was in Bengaluru on the invitation of the corporate)
