Toyota Kirloskar Motors has announced an investment of Rs. 1,650 crore in India. The invested amount will be channelled to its manufacturing plants for increasing their production capacity. A part of the amount will also be applied towards aluminium casting and technology enhancement in the manufacturing process. The company plans to double its annual production from 1,60,000 units to about 3,10,000 units in India by the year 2013. The company’s decision is result of the expanding demand in the growing Indian automobile market.
The production for Toyota’s new cars, Etios sedan and Etios Liva hatchback, will be increased. With a low pricing strategy for these two cars, the company expects a surge in its sales. The Corolla’s production will also be increased. The annual production output at both plants of the company will be increased by 10,000 units each effective immediately. According to estimates, the annual production will reach 2,10,000 units by the first half of year 2012.
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