Toyota's Rs 3300 crore investment boosts job growth and car production

author: FutureCar Staff    

The Toyota Group of companies has made significant investments in India, totaling more than Rs 16,000 crores. This investment has not only stimulated the economy but also resulted in the creation of approximately 88,000 jobs.

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 their third plant in India, all located in Bidadi near Bangalore, Karnataka. The establishment of this new plant has the potential to attract further investments and create more job opportunities, especially considering the expected growth in the supplier ecosystem.

With these new investments, TKM's production capacity is expected to increase by 100,000 units, and around 2,000 new jobs will be created. Moreover, the expansion of TKM's operations also presents opportunities for the growth of the supplier ecosystem.

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

Collectively, the Toyota Group of companies, including Toyota Kirloskar Motor, Toyota Kirloskar Auto Parts, and Toyota Industries Engine India, has invested over Rs 16,000 crores in the entire value chain, including supplier and dealer partners. This investment has not only contributed to job creation but has also underscored Toyota's commitment to manufacturing in India for both domestic and global markets. Additionally, Toyota's cumulative export contributions amount to approximately Rs 30,000 crores, further highlighting their role in the Indian economy.

FutureCar Staff