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Toyota chalks out grandiose plans in India
New Delhi, Sept 15: After setting up a Rs 480-crore transmission production facility in India along with partner Kirloskars, Toyota Motor Corporation has now announced plans to set up an engine assembly facility in the country, reflecting the importance the auto major accords to India.
New Delhi, Sept 15: After setting up a Rs 480-crore
transmission production facility in India along with partner
Kirloskars, Toyota Motor Corporation has now announced plans to
set up an engine assembly facility in the country, reflecting the
importance the auto major accords to India.
Toyota, which along with joint venture partner Kirloskar has had
a good run in India so far especially after the success of its
multi-purpose vehicle Qualis, will be sourcing transmission systems
from India to meet its global demand.
The completely export-oriented transmission equipment plant in
Bangalore is expected to begin supplies from the middle of next
year.
The company has now approached the Foreign Investment Promotion
Board (FIPB) to set up an engine assembly plant in India.
''We have approached the FIPB for the required approval to set up an engine assembly plant in India,'' Toyota Kirloskar Motor (TKM) Managing Director Atsushi Toyoshima has said.
''We have approached the FIPB for the required approval to set up an engine assembly plant in India,'' Toyota Kirloskar Motor (TKM) Managing Director Atsushi Toyoshima has said.
The company has already crossed the 100,000-vehicle sale
mark in India and is now expected to soon jack up production at its
Bidadi facility, near Bangalore, from the current level of around
50,000 units.
Bureau Report