The second largest car maker company of the world and also one of the leading automobile companies operating in India, Toyota has recently stated that it is planning to make a huge investment of Rs 1,400 crore in India, very soon. The company officials have informed that they will make the investment through its India subsidiary, named the Toyota Kirloskar Motor (TKM) and the amount would be spent for setting up the second plant of Toyota in India.
According to one of the top officials of the company, the second plant of Toyota in India is going to produce some passenger vehicles including the Corolla, apart from the small car. The official added that the company is going to build the plant at its site in Bangaluru, in the state of Karnataka. The company has also released an official statement regarding the issue and the statement informed that TKM is currently aiming at achieving an initial production capacity of around 100,000 units in the plant and planning to start operations in the plant in the year of 2010.
The official from TKM also informed that the company is planning to increase the capacity of the new plant over time, as well and it is thinking of exporting the small car from the plant in the future. According to the official, the company has made a promise of achieving high local procurement levels for the new strategic small car and it is intending to increase the dealerships in terms of sales, from its existing level, in future. The official further informed that the affiliated suppliers are considering investment in the Indian industry, to cop with the companys activities to increase its annual production capacity at the moment.
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| Posted : 4/12/2008 |
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