Exploring New Manufacturing Opportunities in Maharashtra
Toyota Kirloskar Motor (TKM) has announced the signing of a Memorandum of Understanding (MoU) with the Government of Maharashtra to explore the establishment of a new manufacturing facility at Chhatrapati Sambhaji Nagar, with a proposed investment of around Rs 20,000 crore. While details about this proposed greenfield facility are still under wraps, its approval would mark Toyota’s fourth manufacturing hub in India. This follows the recent announcement of a third plant in Bidadi, Karnataka, which is set to commence operations by 2026 with an investment of approximately Rs. 3,300 crores, boosting Toyota’s annual production capacity by 1 lakh units.
Commitment to Green Technologies and Regional Expansion
Under the new MoU, TKM is contemplating significant investments in the Chhatrapati Sambhaji Nagar plant, emphasizing the company’s dedication to green technologies. This planned investment, pending confirmation, is expected to be distributed over several years, reinforcing Toyota’s commitment to sustainable manufacturing.
Strategic Vision for India as a Global Manufacturing Hub
Mr. Masakazu Yoshimura, Managing Director and CEO of Toyota Kirloskar Motor and Regional CEO at Toyota Motor Corporation, highlighted India’s strategic importance in Toyota’s global operations. He stated, “Toyota Motor Corporation believes that India is well positioned to become a global manufacturing hub for cleaner and greener mobility solutions. This belief was reinforced with the recent regional restructuring, which elevated India to play a central role in the new ‘India, Middle East, East Asia & Oceania Region’.” The MOU signing signifies a crucial step in Toyota’s growth in India, aiming to deliver high-quality mobility solutions both locally and globally.
Toyota India’s current product lineup includes popular models such as the Toyota Innova Crysta, Innova Hycross, Toyota Fortuner, Legender, Hilux pickup, Land Cruiser 300, Camry sedan, Vellfire MPV, Hyryder, Glanza, Taisor, and Rumion MPV.
