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Toyota to Set Up Manufacturing Plant in Chhatrapati Sambhajinagar

Akash Patil
Akash Patil

31 Jul 2024, 07:06 PM

2.9K
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Toyota Kirloskar Motor (TKM) has signed a Memorandum of Understanding (MoU) to explore the setting up of a new vehicle manufacturing facility with the state government.

The company has signed a Memorandum of Understanding (MoU) with the state government for this greenfield project, which will be located at Chhatrapati Sambhaji Nagar.

This move marks Toyota’s expansion plans beyond its current operations, which include two advanced manufacturing facilities in Bidadi, Karnataka.

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The new factory is expected to begin operations in 3 years. It will manufacture both ICE and electric vehicles and have an annual production capacity of around 4 lakh units.
The project will cover 850 acres in Auric City, and is expected to create approximately 16,000 jobs — 8,000 direct and 8,000 indirect. The manufacturing plant aims to produce four lakh cars annually.
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At present, TKM has two plants located in Bidadi with an annual installed capacity of 3.42 lakh vehicles per year.

Prior to this in the year 2022, the Toyota Group of companies that constitutes Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts (TKAP) had signed and announced their Memorandum of Understanding (MOU) with the Government of Karnataka to invest Rs 4,100 crores aimed at making deeper cuts in CO2 emissions and enhancing electrification and a fast pace shift towards greener technologies.

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“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,” TKM Managing Director and Chief Executive Officer Masakazu Yoshimura said.

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