Toyota Partners with Maharashtra for New Plant

Toyota Kirloskar Motor (TKM) has partnered with the Maharashtra government to establish a new greenfield manufacturing facility in Chhatrapati Sambhaji Nagar, with an investment of Rs 20,000 crore. This project, praised by Chief Minister Eknath Shinde, aims to produce 400,000 electric and hybrid cars annually, creating 8,000 direct jobs and an equal number of indirect jobs. The MoU was signed in the presence of key state officials and TKM executives, emphasizing the facility's role in meeting growing consumer demand and enhancing export capabilities. TKM's Managing Director, Masakazu Yoshimura, stated that this initiative underscores India's potential as a global manufacturing hub for green mobility solutions. The strategic location is expected to improve business efficiency, allowing TKM to serve both domestic and international markets better. TKM currently operates two plants in Karnataka and has invested over ₹16,000 crore in the region since its inception in 1999, creating around 86,000 jobs.