Toyota Kirloskar Motor’s new plant in Karnataka will generate 2,000 jobs
The Toyota Kirloskar's third plant in India will be set up by 2026 with investment of about Rs 3,300 crores
Toyota Kirloskar Motor’s new plant in Karnataka will generate 2,000 jobs in the state.
Toyota Kirloskar Motor (TKM) plans to establish a new plant in Karnataka with an investment of Rs 3,300 crore which is targeted to be operational by 2026, This plant, which would be the company’s third in the nation, is anticipated to create 2,000 jobs. TKM and the Karnataka government inked a formal agreement to this effect, demonstrating how committed TKM is to promoting “Make in India,” “Atmanirbhar Bharat,” and generating “Mass Happiness for All.”
The investments also commemorate TKM’s India operations’ silver anniversary. In addition to increasing capacity and bolstering the regional manufacturing ecosystem, the new factory will open the door for innovative technologies and provide “mobility for all.” The facility, which is slated to be built in Bidadi, close to Bangalore, is anticipated to pave the way for additional expansion in the supplier ecosystem and for investments, employment creation, and development. Production will rise by one million units annually with this factory.
The Karnataka government unveiled a specialized EV policy in 2017; it was revised in 2021 and, according to M B Patil, minister for large and medium industries and infrastructure development, has drawn investments totaling Rs 25,000 crore throughout the whole electric vehicle (EV) value chain. In the state, almost two lakh EVs have been registered.
The factory “will further elevate TKM’s role in our global vision for a more promising future by creating sustainable mobility solutions that enrich people’s lives worldwide,” stated Masahiko Maeda, chief executive officer, Toyota Kirloskar Motor, Asia Region.
Karnataka is set to finalize a new policy on sustainable mobility soon, positioning the state as an appealing location for electric vehicle (EV) manufacture, including the production of batteries and cells, original equipment, and component infrastructure for testing, production, and charging, in addition to R&D.
This will also draw investments of Rs 50,000 crore throughout the EV value chain, creating roughly one lakh new jobs and creating a robust and encouraging EV ecosystem in the state, according to Patil.
“We will continue to work together with the government to develop a world-class local ecosystem that promotes the best solutions for India by focusing on improving energy security, promoting economic growth, and achieving carbon neutrality,” assured Masakazu Yoshimura, MD and CEO of Toyota Kirloskar Motor.
With its programs of Toyota Technical Education Program (TEP) and Toyota Technical Training Institute (TTI), the corporation has long been giving back to the community and supporting “Skill India.” In actuality, TTTI has trained almost a thousand students from Karnataka, while TTEP has trained 12,000 students from 63 institutes spread across 26 states in India.
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