Toyota Kirloskar Motor (TKM), on Tuesday, November 21, announced its plans to invest 3,300 INR-Crore to set up a new plant at Bidadi in Karnataka. This will be the company’s third plant and will be developed at its existing facility at Bidadi. TKM has signed a Memorandum of Understanding (MoU) with the Karnataka Government for the same.
TKM’s three plants will have a combined annual production capacity of 3.42 Lakh units, with the proposed plant having an annual capacity of 1 Lakh units. The project is scheduled to be fully operational by 2026. It will produce the multi-utility vehicle Innova HyCross, as well as roll out new models spanning different fuel technologies.
Also Read: K Raheja Modern Vivarea, Mahalaxmi
Masakazu Yoshimura, TKM Managing Director & CEO said the company would continue to work with the government to develop a world-class local system that promises the best solutions for India by focusing on promoting economic growth, improving energy security, and achieving carbon neutrality.
In the past year, Toyota group firms – TKM and Toyota Kirloskar Auto Parts had signed an MoU with the Karnataka government to invest 4,100 INR-Crore to enhance electrification, fast-paced shift towards greener technologies, and deeper cut in CO2 emissions.
Biltrax Construction Data is tracking 27,000+ projects on their technology platform for their clients.
Get exclusive access to upcoming projects in India with actionable insights and gain a competitive advantage for your products in the Indian Construction Market.
Visit www.biltrax.com or email us at contact@biltrax.com to become a subscriber and generate leads.
Disclaimer: The information contained herein has been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. The image featured in this article is for representation purposes only and does not in any way represent the project. If you wish the article to be removed or edited, please email editor@biltrax.com.
0Discover more from Biltrax Media, A Biltrax Group venture
Subscribe to get the latest posts sent to your email.
