Toyota To Set Up New Manufacturing Unit In Karnataka With Investment Of Rs 3,300 Crores

Staying true to its commitment of “Make in India” and producing “Mass Happiness for All”, Toyota Kirloskar Motor (TKM) signed a Memorandum of Understanding (MOU) with the Government of Karnataka to enhance its existing operations in the country through fresh investments. The investments of around Rs 3,300 crores, coinciding with the landmark occasion of TKM’s 25 years of operations in India, involve the setting-up of a new plant thus adding to capacity thereby resulting in a substantial boost to the local manufacturing eco-system, along with ushering new technologies to create “mobility for all”. This will be the company’s third plant in India, situated at Bidadi near Bangalore, in Karnataka. This development also brings with it, the potential for further investments and job creation given the expected growth in the supplier ecosystem. 

The Memorandum of Understanding with the Karnataka government was signed and exchanged by Hon’ble Chief Minister Shri. Siddaramaiah, Government of Karnataka and Mr. Masakazu Yoshimura, Managing Director and Chief Executive Officer, Toyota Kirloskar Motor in the august presence of Shri M. B. Patil, Minister for Large and Medium Industries and Infrastructure Development, Government of Karnataka, Mr. Swapnesh R. Maru, Executive Vice President & Chief Compliance Officer, Mr. Vikram Gulati, Executive Vice President, Mr. Sudeep Santram Dalvi, Senior Vice President & Chief Communication Officer, and other top executives of Toyota Kirloskar Motor.

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This investment is a part of TKM’s continued long-term commitment to building upon 25 years of its history, by participating towards the next 25 years, which manifests the company’s strong contribution towards “Make in India” and “Atma Nirbhar Bharat” missions leading towards Prime Minister's vision of “Amrit Kaal” (Golden Era). The new investments will also add impetus to the augmentation of the local ecosystem by spurring the growth of its supplier base, further job creation and support to local community development in the State of Karnataka. 

“Karnataka, as the pioneer in releasing a dedicated EV policy in 2017, updated in 2021, stands as the leader in attracting investments of Rs 25,000 crore, spanning the entire EV value chain. With approximately 2 Lakh EVs registered in the State, Karnataka is steadfast in reshaping the mobility landscape”, said Shri M. B. Patil, Minister for Large and Medium Industries and Infrastructure Development, Government of Karnataka.