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Toyota to invest Rs. 20000 cr. in new manufacturing plant in Maharashtra
In a move that has caught eyes, Toyota Kirloskar Motors (TKM) has announced plans to establish a state-of-the-art manufacturing facility in the bustling region of Chhatrapati Sambhaji Nagar. With an estimated investment of a staggering ₹20,000 crore, this greenfield project represents a significant milestone in the company’s ongoing expansion across the subcontinent.
The decision to expand into Maharashtra comes on the heels of TKM’s impressive track record in neighbouring Karnataka, where the automaker, along with its group companies, has already invested more than ₹16,000 crore and created close to 86,000 jobs across the value chain. This remarkable achievement has solidified Toyota’s position as a key player in the Indian automotive landscape, and the company is now poised to replicate this success in the dynamic state of Maharashtra.
The proposed manufacturing facility in Chhatrapati Sambhaji Nagar, a strategic location within the Marathwada region, is expected to be a game-changer for the local economy. With the potential to create substantial employment opportunities and drive economic growth, this investment is a testament to Toyota’s commitment to enriching the lives of communities across India.
The Toyota-Maharashtra partnership is not just about a single investment; it’s a strategic move that has the potential to elevate India’s standing as a global automotive powerhouse. By leveraging the state’s robust infrastructure, skilled workforce, and conducive business environment, TKM aims to bolster the country’s manufacturing capabilities and solidify its position as a preferred destination for international automotive giants.
At the heart of Toyota’s expansion lies a deep commitment to sustainability and environmental responsibility. The proposed greenfield facility in Maharashtra is poised to be a shining example of the company’s dedication to developing eco-friendly mobility solutions that cater to the evolving needs of the Indian market.
Present at the MOU event on the occasion, Mr. Masakazu Yoshimura, MD and CEO of Toyota Kirloskar Motor and Regional CEO at Toyota Motor Corporation (TMC) said, “Toyota Motor Corporation believes that India is well positioned to become a global manufacturing hub for cleaner and greener mobility solutions. This belief was reinforced with the recent regional restructuring which elevated India to play central role by being integrated into the Middle East, East Asia & Oceania Region and acting as the hub of the new “India, Middle East, East Asia & Oceania Region”. Today’s MOU signing marks a pivotal point as we stride into the next phase of growth in the country enabling us to contribute to enriching lives with qualitative mobility solutions locally and globally.”
Commenting on the MOU and present at event Ms. Manasi Tata, Vice Chairperson, Toyota Kirloskar Motor said, “For us at the company, the last 25 years of operational excellence from our Bidadi Plant has created the foundation for future direction of Toyota in India. Our strategic focus on “Make in India” and “Skill India” will enable us to implement sustainable, long-term growth strategy which will enable us to offer cleaner greener mobility solutions to our customers and act as a catalyst towards Government’s roadmap of “Viksit Bharat 2047”.”
Speaking of the new MOU event, Mr. Swapnesh Maru, Deputy Managing Director, TKM said, “The State of Karnataka has helped us to firmly establish ourselves as a tested base for manufacturing excellence. Proposal for the Green Field Manufacturing Facility at Chhatrapati Sambhaji Nagar continues our commitment to advancing sustainable mobility in India. This will act as a tipping point to unlock the potential of Marathwada region, unleashing its entrepreneurial capabilities and providing new age skills to its youth so as to bring Marathwada as a key contributor to Maharashtra’s growth.”
