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TKM, India’s fifth-largest carmaker by volume, to scale up its manufacturing footprint and expand its product portfolio by the end of the decade
Toyota Kirloskar Motor (TKM), the Japanese automaker’s joint venture in India, is formulating major expansion plans to grow its business in the country. The company will be setting up four new plants and launching multiple original Toyota products, including a 7-seat Corolla SUV.
In 2023, TKM announced that it will establish its third plant in Bidadi, near Bengaluru, Karnataka, this year, and the company is expected to open this factory in the coming months. In 2024, the company announced two more plants, located in a greenfield facility in Chhatrapati Sambhaji Nagar, Maharashtra. According to a fresh report from Nikkei, the company is planning a third factory in Maharashtra, presumably in the same greenfield facility.
TKM will start operations at the first of three new factories in Maharashtra in 2029, followed by the remaining two new plants in the next decade. The company will invest around 300 billion yen (approx. 18,163 crore rupees) in this project. Following this expansion, India will become Toyota’s fourth-largest production base, behind Japan, China, and the U.S.
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The new plants in Maharashtra will cater to the domestic market as well as countries in the Middle East and Africa. One of these factories will roll out a three-row Corolla SUV, presumably the second generation of the Corolla Cross. According to a report Autocar Professional published last month, this model will be based on a new version of the TNGA-C platform, codenamed ‘900D’.
Like the current TNGA-C platform, the future version will be suitable for multiple body styles, including hatchbacks, sedans, MPVs, and SUVs. Similarly, it will be compatible with a variety of powertrains, including full-hybrid (strong hybrid) and plug-in hybrid. In fact, TKM is planning to manufacture models with a plug-in hybrid powertrain option at its upcoming manufacturing facility in Chhatrapati Sambhaji Nagar. The first of these could be either the Land Cruiser FJ or the next-gen Corolla Cross.
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Currently, TKM has a total production capacity of 3.4 lakh units in Bidadi, including 1.3 lakh units at the first plant and 2.1 lakh units at the second plant. The company expects the third plant that will be opened this year to increase the capacity by 1 lakh units, bringing the total to 4.4 lakh units.
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