Toyota Kirloskar Motor (TKM) announced plans to set up a new manufacturing plant in Maharashtra with an investment of around Rs 20,000 crore. The company signed a Memorandum of Understanding (MoU) with the Maharashtra government to explore establishing a greenfield facility in Chhatrapati Sambhaji Nagar.
TKM, headquartered in Karnataka, already has two manufacturing units in Bidadi near Bengaluru. In Karnataka, Toyota and its group companies have invested over Rs 16,000 crore and created nearly 86,000 jobs.
At the MoU event, Mr. Masakazu Yoshimura, MD and CEO of Toyota Kirloskar Motor and Regional CEO at Toyota Motor Corporation, said, “Toyota believes India is poised to become a global hub for cleaner and greener mobility solutions. This belief is reinforced by our recent regional restructuring, which positions India centrally in the new ‘India, Middle East, East Asia & Oceania Region.’ Today’s MoU signing marks a significant step as we move into the next phase of growth, allowing us to provide quality mobility solutions both locally and globally.”
Manasi Tata, Vice Chairperson of Toyota Kirloskar Motor, commented on the MoU at the event, saying, “Our 25 years of excellence at the Bidadi Plant have laid the groundwork for Toyota’s future in India. Focusing on ‘Make in India’ and ‘Skill India,’ we aim to implement a sustainable growth strategy that offers cleaner, greener mobility solutions and supports the Government’s ‘Viksit Bharat 2047’ roadmap.”
Swapnesh Maru, Deputy Managing Director of TKM, spoke about the new MoU, stating, “Karnataka has been crucial in establishing our manufacturing excellence. The proposal for the Green Field Manufacturing Facility at Chhatrapati Sambhaji Nagar continues our commitment to sustainable mobility in India. This project will unlock the potential of the Marathwada region, fostering entrepreneurship and providing new skills to its youth, making Marathwada a key contributor to Maharashtra’s growth.”
The investment, once finalized, is expected to be spread over multiple years, potentially creating significant jobs and boosting the local economy. Maharashtra Deputy Chief Minister Devendra Fadnavis shared on social media that the investment for the new plant is Rs 20,000 crore. He emphasized the development benefits for the Marathwada region. TKM currently employs over 6,000 people in its two Bidadi plants, with an annual capacity of 342,000 vehicles.
The company and its group have invested more than Rs 16,000 crores in India, creating 86,000 jobs across the value chain. TKM’s exports from India total Rs 32,000 crores. In 2023, TKM announced a Rs 3,300 crore investment for a third plant in Bidadi, increasing annual production capacity by 100,000 units and creating 2,000 direct jobs. This new plant will start in 2026, raising TKM’s annual production capacity to 442,000 units.
In 2022, TKM and Toyota Kirloskar Auto Parts signed an MOU with the Government of Karnataka to invest Rs 4,100 crores to reduce CO2 emissions and enhance electrification. Currently, TKM has an installed production capacity of 3.42 lakh vehicles at its two units in Bidadi.
Toyota Kirloskar Motor is an automobile manufacturer in India, formed as a joint venture between Toyota Motor Corporation of Japan and Kirloskar Group of India. Established in 1997, the company operates with a strong commitment to innovation, sustainability, and customer satisfaction. Its manufacturing plants, located in Bidadi, Karnataka, produce a range of vehicles known for their reliability and advanced technology.
Toyota Kirloskar Motor has made significant contributions to the Indian automotive industry, promoting the “Make in India” initiative and focusing on eco-friendly solutions. The company also emphasizes skill development and community engagement, reflecting its dedication to holistic growth and corporate responsibility.
