Toyota India to open its second manufacturing facility by Dec
Toyota Kirloskar Motor (TKM), the Indian subsidiary of world's largest car maker, is all set to inaugurate its second manufacturing facility in the Indian market in December 2010, as per a top official of the company. He said so on the occasion of the launching ceremony of the diesel version of Toyota Corolla Altis model in National Capital. The plant is under construction near the city of Bangalore and the company has invested heavily (around Rs 3,200 crore) at this facility. TKM will manufacture its India bound small car Toyota Etios at this plant along with an initial manufacturing capacity of 70,000 units.
The company's existing manufacturing facility in India has a production capacity of 80,000 units where it assembles many of its India portfolio models including crossover Toyota Innova, premium sedan Toyota Corolla Altis and luxury SUV Toyota Fortuner whereas cars like Toyota Camry, Toyota Prado, Toyota Land Cruiser and Toyota Prius are currently being imported to India as CBU's (completely built units).
Mr Hiroshi Nakagawa, who is the Managing Director of the company had recently stated that the construction and raw material prices have increased considerably in the past few years due to the hike in petroleum prices. He added that the company remains committed to its investment in the Indian plant.
The inauguration of the plant will coincide with worldwide launch of company's much awaited compact hatchback Toyota Etios, which will be shelved in the price segment of sub Rs 4 lakh. The Etios model will be rolled-out in the hatchback version initially and a sedan version would follow in another 2-3 months. Toyota India aims to sell 70,000 units of its cars in the country during this year, as against 55,497 units sold in the year 2009. The company has targeted a sales figure of 150,000 units for the year 2011.