Toyota Kirloskar Motor (TKM) has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to explore the establishment of a new Greenfield Manufacturing Facility at Chhatrapati Sambhaji Nagar.
TKM already operates two state-of-the-art manufacturing plants in Bidadi with a combined annual capacity of 3.42 lakh vehicles, employing over 6,000 people. The company follows the Toyota Environmental Challenge (TEC) 2050, aiming for a greener future and carbon neutrality.
In 2023, TKM announced an additional investment of INR 3,300 crore for a new third plant in Bidadi, increasing production capacity by 100,000 units annually by 2026. This expansion is expected to further bolster the local ecosystem, creating over 2,000 direct jobs in Karnataka.
The MoU was formalised in the presence of prominent dignitaries, including Maharashtra's Chief Minister Eknath Shinde, Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar, and key executives from TKM, including MD and CEO Masakazu Yoshimura, Vice Chairperson Manasi Tata, and Deputy Managing Director Swapnesh R Maru.
The proposed new facility in Maharashtra is a response to increasing consumer demand for high-quality, green products and a growing export market. The investment, once finalised, is expected to generate substantial job creation and economic growth in the region. The location's strategic advantage will enable TKM to meet business and logistical requirements more efficiently, thereby expanding its reach both within India and internationally.
Masakazu Yoshimura, highlighting Toyota's strategic regional restructuring that places India at the center of the 'India, Middle East, East Asia & Oceania Region, said, ' This new focus underscores Toyota's confidence in India's role in the future of global mobility.'
Manasi Tata added that the operational excellence of TKM's Bidadi plant over the past 25 years has laid the foundation for the company's future direction in India. The company's focus on 'Make in India' and 'Skill India' initiatives aims to support sustainable, long-term growth, aligning with India's vision of 'Viksit Bharat 2047.'
In 2022, TKM and Toyota Kirloskar Auto Parts (TKAP) announced an MoU with the Government of Karnataka, pledging INR 4,100 crore to reduce CO2 emissions and enhance electrification, accelerating the shift toward greener technologies.
Since its inception in 1999, TKM has been pivotal in promoting India's growth by adhering to the core values of 'Grow India - Grow with India.' The company has focused on skill enhancement, localisation, and developing the local ecosystem, contributing significantly to economic and social development. In Karnataka alone, TKM and its associated companies have invested over INR 16,000 crore, creating around 86,000 jobs in the value chain, including supplier and dealer networks. The company's export contributions also highlight its global focus, with cumulative exports amounting to approximately INR 32,000 crore. Also Read:
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