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Toyota Kirloskar Motor to infuse Rs 2,000 cr in India

Wednesday, 16 Sep 2020
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Toyota Kirloskar Motor will invest Rs 2,000 crore in the country in FY21. The company does not intend to increase the capacity. The investment will be made towards technology and electrification, both for domestic and exports market.

The investment will be made by Toyota Kirloskar Motor (TKM), along with Toyota Kirloskar Auto Parts (TKAP) and Toyota Industries Engine India (TIEI).

Toyota Motors is working closely with Maruti Suzuki across verticals, be it production, technology or procurement, to expand its presence in the Indian market.

The company’s arrangement with Maruti Suzuki to introduce cross-badged models in the Indian market will continue. The company will not bring in new vehicles from its own portfolio into the country in near future.

Toyota has an installed capacity to produce 3,10,000 units across its facilities in Bidadi, Karnataka. The company sold 1,14,081 vehicles in FY20. Toyota Motors additionally has an arrangement with Suzuki for sourcing vehicles for sale in the Indian market.

As part of the agreement, Maruti Suzuki supplies premium hatchback Baleno to Toyota Kirloskar, which is sold as Toyota Glanza. Maruti Suzuki will shortly start supplying Vitara Brezza to Toyota, which will be sold as Urban Cruiser in the Indian market this festive season.

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