Toyota's Massive Investment Boosts Job Opportunities and Car Production

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【Summary】Toyota Kirloskar Motor (TKM) will invest Rs 3300 crore to set up a new plant in India, adding 2000 new jobs and increasing car production by 100,000 units. This is part of Toyota's larger investment in India, totaling over Rs 16,000 crore and creating 88,000 jobs. The company aims to cut CO2 emissions and shift towards greener technologies. Toyota's cumulative export contributions from India are approximately Rs 30,000 crore.

FutureCar Staff Nov 22, 2023 5:14 AM PT

Toyota's Massive Investment Boosts Job Opportunities and Car Production

The Toyota Group of companies has made significant investments in India, totaling more than Rs 16,000 crores. These investments have resulted in the creation of approximately 88,000 jobs across the country.

Toyota Kirloskar Motor (TKM) has recently announced its plans to invest Rs 3300 crore in setting up a new plant and boosting local manufacturing. This will be the company's third plant in India, all located in Bidadi near Bangalore, Karnataka. The establishment of this new plant also presents opportunities for further investments and job creation, considering the expected growth in the supplier ecosystem.

The investments made by TKM will not only enhance its production capacity by 1,00,000 units but also generate around 2,000 new jobs. Additionally, the expansion of TKM's operations is expected to drive further growth in the supplier ecosystem.

Last year, the Toyota Group, which includes Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts (TKAP), signed a Memorandum of Understanding (MOU) with the Government of Karnataka. This agreement aimed to invest INR 4,100 crores in initiatives focused on reducing CO2 emissions, enhancing electrification, and accelerating the adoption of greener technologies.

Throughout the entire value chain, including supplier and dealer partners, the Toyota Group has invested over Rs 16,000 crores and created approximately 88,000 jobs. Toyota's commitment to manufacturing in India extends beyond serving the domestic market, as its cumulative export contributions amount to approximately Rs 30,000 crores.