Toyota To Build New 100,000-Units-A-Year Car Factory In Maharashtra
– Japanese automaker Toyota on Monday announced plans to set up a new manufacturing plant in Maharashtra that will produce 1,00,000 cars annually.
The automaker declined to disclose the total capital investment figure in the new venture.
Toyota Kirloskar Motor said in a statement that the facility, which will be located in the Bidkin Industrial Zone of Chhatrapati Sambhaji Nagar District, will produce a new SUV model and will employ approximately 2,800 people at the time of launch.
The automaker’s move to expand its footprint in the world’s third-largest auto market and the fastest-growing vehicle market comes in the wake of rising demand for its vehicles. India will surpass Japan in 2023, becoming the world’s third largest vehicle market after China and the USA.
The new facility is planned to start production in the first half of 2029, with an initial capacity of 100,000 vehicles per year.
The factory will cover all core automotive manufacturing processes, including stamping, welding, painting and assembly.
Although the first model determined for production is a new SUV, no further technical information about the vehicle has been disclosed.
TKM stated that in addition to serving domestic demand, the facility will also supply vehicles to customers in regions around India, and claimed that the new facility will assume the export role from the very beginning.
Demand for SUVs in the Indian market has increased sharply over the last decade, reshaping the product strategies of almost every automaker operating in the country, with many manufacturers announcing or completing capacity expansions in India.
Currently, the company operates two manufacturing facilities, both located in Bidadi in Karnataka. The company manufactures several of Toyota’s widely sold models in India, including Innova HyCross, Innova Crysta, Fortuner and Legender, with an installed capacity of up to 132,000 units per annum.
The second facility, located at the same Bidadi site, produces the Camry Hybrid, Urban Cruiser Hyryder and Hilux with an annual capacity of up to 210,000 units.
The two facilities together have a combined installed production capacity of up to 342,000 units per year and employ 6,466 permanent staff on a total land area of approximately 432 acres.
