Toyota Kirloskar Motor (TKM) is investing Rs 3,300 crore to set up a new plant in Karnataka by 2026. This would be the company’s third plant in the country and is expected to generate employment for 2,000 people. A formal agreement was signed to this effect by TKM and the Government of Karnataka, reflecting how serious TKM is about contributing towards ‘Make in India’, ‘Atmanirbhar Bharat’ and creating ‘Mass Happiness for All’.
The investments also mark the silver jubilee of TKM’s India operations. The new plant will not only enhance the capacity and give a push to the local manufacturing eco-system, but will also pave the way for new technologies, ensuring ‘mobility for all’. The plant will be established in Bidadi near Bangalore and is expected to open doors to further development, investments and job creation, given the growth in the supplier ecosystem that will no doubt happen. This plant will increase the production by 1,00,000 units per year.
Government of Karnataka released a dedicated EV policy in 2017, which was updated in 2021, and has been responsible for “attracting investments of Rs 25,000 crore, spanning the entire electric vehicle (EV) value chain,”revealed M B Patil, minister for large and medium industries and infrastructure development, Government of Karnataka on the occasion. About two lakh EVs have been registered in the State.
Masahiko Maeda, chief executive officer, Asia Region, Toyota Kirloskar Motor, said that the plant “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.”
Karnataka will soon finalise a new clean mobility policy, which will position the State as an attractive destination for EV manufacturing, including battery and cell manufacturing, component production, original-equipment manufacturing, charging and testing infrastructure, as well as research and development.
This will further attract investments of Rs 50,000 crore across the entire EV value chain, giving rise to about one lakh new jobs, and “establishing a comprehensive and supportive EV ecosystem in the State,” shared Patil.
Masakazu Yoshimura, MD and CEO, Toyota Kirloskar Motor assured, “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.”
The company has been doing its bit for local communities and contributing to ‘Skill India’ through its initiatives of Toyota Technical Training Institute (TTTI) and Toyota Technical Education Program (TTEP) for some time now. In fact, TTTI has trained close to 1,000 students from Karnataka, while 12,000 students have been trained from 63 Institutes across 26 states of India through TTEP.
