The Indian venture of the Japanese auto giant, Toyota Kirloskar Motor (TKM), signed a deal with the Maharashtra government to “examine” setting up a greenfield manufacturing facility in Chhatrapati Sambhajinagar, earlier known as Aurangabad, with Rs 20,000 crore.
TKM to Invest in Maharashtra for Greenfield Plant & Expand in Karnataka to Boost Production Capacity
Both, the CM of Maharashtra and the Managing Director and Chief Executive Officer of Toyota Kirloskar Motor, Masakazu Yoshimura were present at the event. As per the CM, “Under the project, 400,000 electric and hybrid cars are expected to be manufactured every year with an investment of Rs 20,000 crore, generating 8,000 direct jobs and indirect employment for 8,000. This project will revolutionise the automobile sector”.
In addition to this, Deputy CM Devendra Fadnavis revealed that 850 acres have been allotted for the manufacturing facility at AURIC (Aurangabad Industrial City), Chhatrapati Sambhajinagar.
The South Korean major Hyundai Motors India also acquired the Talegaon facility from General Motors and is expanding the brownfield plant.
Notably, the South Korean major is also set to debut on the stock markets.
It was in the year 1997 that the venture TMK started operations in India and it was in 1999 that the production began. Last year, the company said that it will invest Rs 3,300 crore in Karnataka to set up a third plant — in Bidadi — which is near Bengaluru.
This expansion shall increase TKM’s production capacity by 100,000 units annually, thus adding to the growth of the local ecosystem of suppliers and creation of over 2,000 direct jobs in Karnataka.
With this third plant expansion going mainstream in 2026, TKM’s annual production capacity in Bidadi is expected to be augmented to 442,000 units.
Employing over 6,000 people and with a production capacity of 342,000 vehicles a year, the facility houses a base of over 200 suppliers in Bidadi.
3-shift manufacturing in Bidadi was started to boost the output by 30% and expand its capacity by 32,000 units.
Toyota Kirloskar Motor Achieves Record Sales of 263,512 Units in FY24; Plans New Greenfield Plant to Boost Sustainable Mobility
In the year FY24, TMK marked its best sales figure and sold 263,512 units. Notably, it was up from 48% from the 177,683 units in FY23.
In the month of April, the company said that it was the SUV as well as Multi-utility vehicles, which were the biggest contributors with models like the Innova Crysta, Innova HyCross, Fortuner, Legender, Urban Cruiser Hyryder, Hilux and LC300.
TMK’s Yoshimura said that “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”.
The Deputy MD, Swapnesh Maru said that the proposal for the greenfield plant continued the company’s commitment to advancing sustainable mobility in India.
In the year 2022, the Toyota group, which comprises Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts (TKAP), had signed and announced their Memorandum of Understanding (MOU) with the Karnataka government to invest Rs 4,100 crore aimed at making deeper cuts in carbon dioxide emissions and enhance electrification.
