Toyota to Build its Third plant in Karnataka, Production Capacity of 1 Lakh Units, Maruti Suzuki, Tesla, Honda

Toyota Kirloskar Motor (TKM), one of the largest automobile companies, will set up its third plant in the country in Karnataka. For this, the company signed an MoU with the Karnataka government on Tuesday. This can increase Toyota’s production capacity by one lakh units.

The company said that it will invest about Rs 3,300 crore in this plant to be built in Bidadi, Karnataka. This plant will provide employment to about 2,000 people. This plant of Japan Company Toyota is planning to increase its production in the country. It has two plants in the country with a capacity of about 3.42 lakh units per year. Masahiko Maeda, Chief Operating Officer of Toyota’s Asia region, said that the country’s market is very important for the company. The new plant will also help the company to increase its sales in the country.

Recently Toyota Motor Corporation achieved an important milestone. The company has crossed the total manufacturing figure of 30 crore vehicles almost 88 years after the manufacturing of its first vehicle Model G1 truck. These include vehicles manufactured in the company’s factories in Japan and other countries. In September this year, Toyota achieved the figure of manufacturing 30 crore cars. Out of these, the company has manufactured more than 18 crore units in its factories located in Japan and many other countries. Among these, Corolla has the highest number of units, more than 53 crore. This sedan was first launched in 1966 and since then it has undergone many changes. It is among the most popular cars worldwide. However, in the last few years, Toyota has seen a lot of changes. Electric Vehicles Challenges have increased, including (EV).

Toyota also plans to launch a new SUV in the country. This includes a model sold under the Maruti Suzuki brand. The third plant will allow the company to increase its production capacity by 30 percent. The world’s largest car maker in terms of production volume dominates the passenger vehicle segment in the international market but the company’s sales in India are not high. Its models like Fortuner have a large share in their segment but its position in the small car segment is weak.