Toyota Kirloskar Motors (TKM) announced plans to set up a new factory in the Bidkin Industrial Area in Maharashtra, India. The facility is expected to begin operations in the first half of 2029, and is set to employ around 2,800 workers, with a maximum production capacity of 1 lakh vehicles per year.
A new SUV model will be the first to be produced in the plant, but details about the SUV have not been disclosed. The plant will also cover a wide range of operations like stamping, welding, painting and assembly. The aim behind this new plant is to target future demands of the ever-so-fast growth of India’s market and also to cater to surrounding regions.
The year 1997 marked the establishment of TKM, the strategic alliance between Toyota Motor Corporation of Japan, that holds an 89 percent stake and Kirloskar Systems Limited of India, which has a stake of 11 percent. Production began in 1999 at TKM’s first plant located in Bidadi, Karnataka, while a second plant built at the same place commenced operations 11 years later. The two plants have a combined production capacity of 3,24,000 units annually and permanently employ 6,466 people.
The plan to build a plant in Maharashtra can also be seen as a tactical move as the state is home to many automotive manufacturers. Toyota stated that the new factory will strengthen its production structure, which will enable a flexible response to the growth and market change.
