Toyota to invest Rs 1,400cr in India
World’s second largest car maker, Toyota will invest Rs 1,400 crore through its India subsidiary, Toyota Kirloskar Motor (TKM), into setting up the company’s second plant in the country.
The new plant, which will produce the small car in adition to other passenger vehicles including the Corolla, will be built at TKM’s site in Bengaluru, Karnataka, the company stated in a release.
TKM aims at an initial production capacity of around 100,000 units with operations slated to begin in 2010. The company plans to increase the capacity over time. Furthermore, TKM also plans to export the small car in the future.
The company has promised to achieve high local procurement levels for the new strategic small car. In terms of sales, the company intends to increase the dealerships from its existing level, in future. In line with the company increasing annual production capacity, its affiliated suppliers are currently considering investment in the Indian industry as well
