3 New Toyota Plants To Open In Maharashtra By 2030 – USD 1.9 Billion Investment

TKM (Toyota Kirloskar Motor Pvt Ltd) has emerged as one of India’s leading car manufacturers in recent times based on sales numbers. However, around a quarter of their sales come from badge-engineered products manufactured by Maruti Suzuki like Glanza, Urban Cruiser Taisor and Rumion.

Toyota is keen on increasing its total production capacity to boost its domestic sales and then lay foundation for robust export operations in the future. In that direction, Toyota is working to open three new assembly plants in Maharashtra state with a USD 1.9 Billion investment, as per Nikkei. Let’s take a closer look.

3 New Toyota Plants

By the end of the year 2030, Toyota aims to build three new production facilities in Maharashtra state, which is among the industrial heartlands of India’s automotive industry. This will allow TKM to almost triple its current production outputs when all three of these new facilities commences operations.

The goal is to produce around 1 Million vehicles per annum from all Indian facilities combined by the end of 2030. To ensure this goal is fast tracked, Toyota is estimated to invest around JPY 300 Billion, which turns out to be around USD 1.9 Billion or Rs 18,103 Crores.

Currently, TKM operates three production facilities in Bidadi, near Bengaluru in Karnataka state. These facilities primarily concentrate on domestic market with a strong emphasis on self charging Hybrid vehicles. Upcoming Maharashtra facilities will not only take care of domestic market, they will cater to exports too, positioning India as a manufacturing hub.

India To Be 4th Major Car Production Hub For Toyota

Toyota is a global juggernaut and has an unmissable presence in major world markets. In Japan, Toyota has a production capacity of around 3.1 Million units per annum, 2.2 Million units in China and 1.5 Million units in USA. With these three new facilities in Maharashtra, Toyota’s production capacity in India is projected to be 1 Million units, making India Toyota’s 4th major car production hub.

As of writing this article, Toyota is maintaining that they have not yet made any decision on construction of a new factory. Instead, Toyota seems to be reviewing production arrangements by working in partnerships with regional players.

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