India (Commonwealth) _Toyota Kirloskar Motor announced plans to spend Rs. 3,300 crore in its third factory in Bidadi, Karnataka. The new plant, which is set to open in 2026, will have an annual capacity of 1 lakh units produced in two shifts.
It will be built at the company’s current plant in Bidadi, near Bengaluru, which now has two units with a combined installed production capacity of up to 3.42 lakh units per year.
Toyota Kirloskar Motor (TKM) Executive Vice President & Country Head Vikram Gulati told PTI that the new facility, in addition to producing the multi-utility vehicle Innova HyCross, will be “future ready” to roll out models spanning various fuel technologies.
He feels his firm is future-ready, both in terms of access to technology and well-accepted goods across numerous powertrains, as well as the capacity to bring these items to market. He also stated that in the industry, it does not take long for the same or some lines to be prepared for the introduction of any type of powertrain.
Gulati said it does require some effort, but it is not a significant obstacle in my opinion. As a result, we are ready and versatile for any of the future powertrains. And he is confident that the new factory will be far more modern and future-ready. He responded in this manner. He said this in response to a query about whether the third factory will be capable of producing new technology cars such as electric automobiles.
He did, however, state that it is too early to provide any information. He noted that the third facility will add 2,000 employment to the existing two facilities’ present workforce of 11,200.
The firm has signed a memorandum of understanding with the Karnataka government on new investment to establish the third facility, which would coincide with the company’s 25th year of operations in India.
As a forward-thinking mobility company, TKM is confident that today’s important MoU with the state of Karnataka for the new plant will be beneficial through job creation and increased adoption of advanced clean technologies, said TKM Managing Director and CEO Masakazu Yoshimura at the event.
He also stated that TKM would continue to collaborate with the government to create a world-class local system that will provide the greatest solutions for India by concentrating on enhancing energy security, boosting economic growth, and reaching carbon neutrality.
Toyota CEO Asia Region Masahiko Maeda stated in a statement that the Indian market remains very important to them. We are sure that our additional investments in India will further elevate TKM’s position in our global goal for a brighter future by developing sustainable mobility solutions that improve people’s lives throughout the world.”
Last year, Toyota group enterprises TKM and Toyota Kirloskar Auto Parts inked an MoU with the Karnataka government to spend 4,100 crore in electrification, a rapid move to greener technologies, and a deeper reduction in CO2 emissions. Toyota has invested a total of 16,000 crore in various initiatives in India so far.
Toyota Kirloskar Motor Private Limited (TKM) is an Indian joint venture between Toyota Motor Corporation (89%) and Kirloskar Group (11%), dedicated to the production and marketing of Toyota vehicles in India.The headquarters are in Bidadi, Karnataka, close to Bengaluru. TKMPL’s present facility at Bidadi, Karnataka, is 850 acres in size and has a capacity of 110,000 automobiles per year. TKMPL’s second production factory, located on the outskirts of Bengaluru, Karnataka, has an annual capacity of 210,000 automobiles. The total annual production capacity is 320,000 automobiles. It declared on March 16, 2011, that it will boost production to 210,000 vehicles per year] due to increased demand for its models, particularly the Etios and Fortuner.
