Toyota Kirloskar Motor on Monday said it will set up a new manufacturing plant in Maharashtra that will start production in the first half of 2029. While the company did not disclose investments on the new plant, it has been reported in Japanese media that parent Toyota Motor planned to invest about 300 billion yen (USD 1.9 billion) in Maharashtra for capacity expansion in India.
The new vehicle manufacturing plant will be in the Bidkin Industrial Area, Maharashtra, India, Toyota Kirloskar Motor (TKM) said in a statement. "The new plant is planned to start production in the first half of 2029 and is aimed to strengthen Toyota's business foundation in the Indian market," it added.
The plant will have a production capacity of 1 lakh vehicles per year and is expected to employ around 2,800 people, the company said.
A new model SUV will be rolled out from the plant that would have main processes such as stamping, welding, painting and assembly, it added. The new plant is a part of Toyota's plans to "continue strengthening its production structure to enable flexible response to future demand growth and market changes in India and surrounding regions, and to deliver products in a timely manner that customers choose", the statement said.
TKM has two plants in Karnataka with a combined installed capacity of 5.52 lakh units a year.
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