Toyota Kirloskar Motor ( TKM) — an Indian joint venture between
Toyota Motor Corp and
Kirloskar Group for the manufacture and sales of Toyota cars in India — has signed a Memorandum of Understanding (MoU) with the government of Maharashtra, to examine setting-up a ‘green field’ manufacturing facility at the city of Chhatrapati Sambhaji Nagar. Headquartered in Karnataka, TKM already has a world-class manufacturing setup with two units located at Bidadi.
Since Toyota started its India operations in 1999, the country has been growing in importance and has now become a vital market for the company globally, and it has been ‘working extensively to expand its operations ‘in alignment with key national priorities of skill enhancement, localisation, and development of the local ecosystem’.
Toyota says that integral to the company’s operations and significant expansion has been the support by the Indian government and the state of Karnataka. “This has laid a strong foundation of growth, one that has enabled the company to enter this next stage of expansion. Over the past 25 years, Toyota has established itself as a ‘model company for innovation and manufacturing practices’ leading to large scale economic and social development of the region.”
In the State of Karnataka, Toyota Kirloskar Motor, including its group companies, has invested more than ‘INR 16,000 crores’ and created close to 86,000 jobs in the entire value chain (including supplier and dealer partners), underlining its philosophy of ‘making in India not only for India but for the world’.
Masakazu Yoshimura, managing director and CEO of Toyota Kirloskar Motor and regional CEO at Toyota Motor Corp, said: “Toyota Motor Corp believes that India is well positioned to become a global manufacturing hub for cleaner and greener mobility solutions. This belief was reinforced with the recent regional restructuring, which elevated India to play a central role by being integrated into the Middle East, East Asia and Oceania Region and acting as the hub of the new ‘India, Middle East, East Asia and Oceania Region’. This MoU marks a pivotal point as we stride into the next phase of growth in the country.”