Japanese automaker Toyota, which operates in India through Toyota Kirloskar Motor is planning to set up a new production plant in India to meet the surplus demand for its car models. The new facility is expected to be established near Hosur in the state of Tamil Nadu and may commence operations by the year 2016.
The Japanese carmaker has also stated its intention to invest an amount of Rs 900 crore in the fiscal 2012-13 with the aim of increasing production capacity by 1,00,000 units at its Bangalore facility from 2,10,000 units to 3,10,000 units. The capacity expansion drive at the Bangalore facility is expected to be implemented by March 2013.
To benefit from lower manufacturing costs in India, the auto manufacturer is also planning to export the Indian manufactured Etios sedan to international markets. The Etios happens to the company’s cheapest car model globally.
