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.
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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.
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