Toyota Motor Corporation (TMC) will build a second plant on the site of Toyota Kirloskar Motor (TKM), its automobile production base in India and will export a new compact model to be built there.
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This second plant is scheduled to begin operations in 2010 with initial annual production capacity of around 100,000 vehicles (twice last year’s current plant output), with plans to increase that over time. In line with this, the company plans to further invest more than approximately JPY35bn..
The second plant will build passenger vehicles, including the Corolla and a new compact vehicle.
“The aim of the new plant is to meet the broad needs of customers in India, where motorisation is expanding rapidly. The new compact vehicle is also expected to be exported to other countries in the future,” Toyota said.
TKM is a joint venture company established on the outskirts of Bangalore in October 1997 by TMC and the Kirloskar Group. Currently, TKM produces the Corolla and the IMV series Innova minivan, with annual production in 2007 of 52,000 vehicles (an 18% year-on-year increase).
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By GlobalDataOn the basis of its policy of producing vehicles where sold, TMC decided to build the second TKM plant to respond to the market expansion that has accompanied the development of motorisation in India, Toyota said.
Once production begins at the second plant in 2010, the two TKM plants will have a combined annual production capacity of 160,000 vehicles.
