On Wednesday, July 31, Toyota Kirloskar Motor (TKM) India announced its plans to set up a new factory in Maharashtra with an estimated investment of INR 20,000 Crore. The company has signed a memorandum of understanding (MoU) with the Maharashtra Government to set up this factory in Chhatrapati Sambhaji Nagar.
The proposed factory by TKM will be established over multiple years. This investment promises substantial job creation and economic growth in the region. Under this project, the upcoming factory will produce 4 Lakh electric and hybrid cars annually. This initiative will generate 8,000 direct jobs and indirect employment opportunities.
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Additionally, when this third plant expansion goes mainstream in 2026, TKM’s annual production capacity at Bidadi, Karnataka, will increase to 4.42 Lakh units. This strategic location will further enhance the company’s efficiency in meeting business and logistical requirements.
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