NEW DELHI: Toyota Kirloskar Motor (TKM) on Wednesday announced further increase of its production capacity to 3,10,000 units by 2013. The expansion will come with an investment of `898 crore approximately.
The production in the first plant will be enhanced from 90,000 units to 1,00,000 units and in the second plant from 1,20,000 units to 2,10,000 units. The first plant will manufacture Innova and Fortuner and the second plant will manufacture Etios, Etios Liva and Corolla Altis.
Furthering the growth of Toyota in India by 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 TKAP’s new “Etios” and “Etios Liva” engine plant, which is scheduled to start operations in the third quarter of 2012. The installation will see an additional investment of `750 crore approximately.
Commenting on the expansion of Toyota in India, Hiroshi Nakagawa, Managing Director, TKM said “In line with the growing demand for our vehicles, we have decided to further expand production.”
Commenting on the localization project in India, Vikram Kirloskar said, “The Etios project is a milestone phase in the growth of Toyota in India. We are now preparing to cater to increasing demand and are working on the expansion of Toyota in India.”