Toyota announces investment amount for 2nd Indian plant
TOYOTA MOTOR CORPORATION (TMC) announced today that it has decided on a capital investment of approximately 68 billion yen for the second plant of Toyota Kirloskar Motor Private Limited (TKM), its automobile production base in India.
The approximately 68 billion yen consists of approximately 35 billion yen initially decided on for buildings and basic equipment and an additional approximately 33 billion yen for general-purpose and specialized equipment necessary for manufacturing a new compact vehicle.
TKM's second plant is scheduled to begin operation in 2010, with an annual production capacity of 100,000 passenger vehicles. By producing such vehicles as the "Corolla" and a new compact vehicle, the second plant is expected to contribute to TMC's aim to meet the needs of a broad range of customers as motorization takes off in India.
TKM, a joint venture established on the outskirts of Bangalore in October 1997 by TMC and the Kirloskar Group, currently produces the Corolla and the IMV series "Innova" minivan. In 2007, TKM manufactured 52,000 vehicles, an 18% year-on-year increase. Once production begins at the second plant in 2010, the two TKM plants will have a combined annual production capacity of 160,000 vehicles.
TMC plans to continue to develop an optimal global production and sales network with a view to match market needs with the right vehicle, in the right place, at the right time.
Outline of TKM
|Company name||Toyota Kirloskar Motor Private Limited|
|Location||Outskirts of Bangalore, Karnataka State|
|Equity participation||TMC: 89%, Kirloskar Group: 11%|
|Land area||Approx. 420 acres (approx. 1.7 million m2)|
|Number of employees||Approx. 3,200 (as of end of October 2008)|
|Plant name||Plant No. 1||Plant No. 2|
|Start of production||December 1999||2010 (planned)|
|Annual production capacity||Approx. 60,000 units||Approx. 100,000 units|
|Products||Corolla, Innova||Corolla, new compact vehicle|
|2007 production results||52,000 units||—|