Toyota said it is exploring the possibility of establishing a greenfield plant at Chhatrapati Sambhaji Nagar (formerly Aurangabad). This proposed inve
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Toyota Kirloskar Motor (TKM) has signed a memorandum of understanding (MoU) with the Maharashtra government to propose an investment for setting up a new manufacturing facility. The company said it is exploring the possibility of establishing a greenfield plant at Chhatrapati Sambhaji Nagar (formerly Aurangabad). This proposed investment, once finalised, is expected to be made over a multi-year period, potentially contributing to job creation and economic growth in the region.
Toyota’s future investments
Toyota presently has two manufacturing plants in Bidadi, Karnataka, with an installed production capacity of 3.42 lakh vehicles per annum employing over 6,000 people. The company previously announced fresh investments of about ₹3,300 crore for a third plant in Bidadi increasing its production capacity in the region by 100,000 units. The third plant expansion will be ready by 2026 and will take a total production capacity of 4.42 lakh units from the Bidadi plants.
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Speaking about the MoU, Masakazu Yoshimura, MD and CEO -Toyota Kirloskar Motor and Regional CEO at Toyota Motor Corporation (TMC) said, “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 central role by being integrated into the Middle East, East Asia & Oceania Region and acting as the hub of the new “India, Middle East, East Asia & Oceania Region”. Today’s MOU signing marks a pivotal point as we stride into the next phase of growth in the country enabling us to contribute to enriching lives with qualitative mobility solutions locally and globally.”
Commenting on the MOU, Manasi Tata, Vice Chairperson, TKM, said, “For us at the company, the last 25 years of operational excellence from our Bidadi Plant has created the foundation for future direction of Toyota in India. Our strategic focus on “Make in India” and “Skill India” will enable us to implement sustainable, long-term growth strategy which will enable us to offer cleaner greener mobility solutions to our customers and act as a catalyst towards Government’s roadmap of “Viksit Bharat 2047.”
Toyota’s new greenfield plant in Maharashtra
Toyota says its upcoming greenfield manufacturing facility in Maharashtra will further strengthen the company’s focus on advanced green technologies along with new products and services. The automaker has not revealed the investment value of the fourth facility. That said, the manufacturer is likely to share more details once details on the new production plant are finalised.
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Notably, another Karnataka-based manufacturer, Ather Energy, announced its plans to set up a third manufacturing plant in the country recently. Ather will also establish its third plant in Chhatrapati Sambhaji Nagar and will have a production capacity of one million units. The new automotive manufacturing facilities will lead to a substantial increment in job creation and economic growth in the region. The city already has an automotive presence in the form of component makers as well as mainstream carmakers including Skoda Auto Volkswagen and Mahindra.
First Published Date: 31 Jul 2024, 13:39 PM IST