Toyota Motor Corporation on Wednesday said its production and sales subsidiary in India, Toyota Kirloskar Motor (TKM), plans to further increase capacity to meet rapid growth in India. The expansion will come with an additional JPY17.2bn investment and the hiring of new employees.
Capacity will grow to 310,000 units in 2013, up from a previously announced (only a month ago) 210,000 units by the first half of 2012. Current capacity is 160,000 units.
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“The further expansion will enable timely delivery of the Innova, Fortuner and the Etios sedan and Etios Liva hatchback,” Toyota said.
Toyota is also expanding capacity in Thailand and building a 70,000 unit plant in Brazil to also make the Etios.
Separately, the Toyota Technical Training Institute in India, established in 2007 by TKM to support local employee development, is to see the approximately 60 students of its second class graduate at the end of this month and begin working at TKM.
“As part of its sustainable growth strategy, TMC will continue its efforts to support the development of the automobile industry by increasing local production and creating new jobs in emerging markets such as India in accordance with its founding philosophy of contributing to society through manufacturing automobiles,” the automaker said.
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By GlobalDataTKM started production in December 1999 and is in Bangalore, Karnataka State. It also imports the Camry, Prado, Prius and Land Cruiser 200 fully assembled.
