Toyota Kirloskar Motor (TKM) has announced further increase of its production capacity to 3,10,000 units by 2013. The expansion will come with an investment of Rs. 898 crores approx. and generation of new employment opportunities. The company had earlier announced its plan to expand the annual production capacity from 1,50,000 units to 2,10,000 units by first half of 2012. In line with TKM’s expansion plans and in order to cater to the increase in demand for Innova , Fortuner, Corolla Altis, Etios and Etios Liva, the company has decided to further increase production.
The first plant will manufacture Innova and Fortuner and the second plant will manufacture Etios, Etios Liva and Corolla Altis. Furthering the growth ofToyotainIndiaby locally manufacturing the parts of Etios and Etios Liva, Toyota Kirloskar Auto Parts Pvt Ltd (TKAP), plans to install aluminum casting and machining lines, scheduled to begin operations in early 2014. The lines are to be installed at the Toyota Kirloskar Auto Parts’ Etios and Etios Liva engine plant, which is scheduled to start operations in the third quarter of 2012. The installation will result in an investment of Rs. 750 crores. The Toyota Auto Parts unit serves as a production and supply base for manual transmission for IMV series vehicles (Innova, Fortuner and Hilux) to India, Thailand and Argentina.
Also see – 2012 Toyota Innova facelift revealed at IIMS expected in India soon