Japanese carmaker Toyota Motor Corporation has introduced a procedure to increase its production capacity in India, with two factories operating at full capacity in the country, a senior corporate official said on Thursday.
Speaking to the media on the sidelines of the Japan Mobility Show, Yoichi Miyazaki, board member and vice chairman of Toyota Motor Corporation, showed the progression, saying that the company is achieving full capacity utilization at its plant in India.
“We have started a discussion (about this),” he said when asked if the corporation plans to make new investments to strengthen the country’s capacity.
He said that the demand for cars, especially cars in the segment, has increased in India after Covid.
“After Covid, the market recovery is very strong (in India) compared to other countries, so the demand by itself is very strong in India,” the corporate executive said.
Bengaluru-based Toyota Kirloskar Motor, a joint venture between Toyota Motor Company and Kirloskar Group, has two plants with a total output of 3. 42 lakh per year.
Faced with the growing demand for long waiting periods for certain products, the automaker is now planning to set up a third plant in India.
Miyazaki said it’s a smart sign for the automaker that the Indian car market is starting to witness a slow increase in acceptance of larger cars.
When asked if the Indian car market’s shift from small cars to the top segments made the market more attractive for Toyota, he replied, “With the strength of the upper segments ascending in the Indian market, it tells us that the time is right for Toyota. ” TKM has noticed a sharp increase in demand for its models this year.
In the April-September period, its sales increased by 35% to 1,23,939 devices, compared to 91,843 devices in the same period last year.
The automaker has two facilities at the Bidadi complex in Karnataka that implement other product suites. A production facility in December 1999 and implements Innova Hycross, Innova Crysta, Fortuner and Legender. It has an installed production capacity of 1. 32 lakh sets per year.
The second plant on the same site, with an installed production capacity of 2. 10 lakh units, implements such as the Camry Hybrid, Urban Cruiser Hyryder and Hilux.
Factory production started in December 2010. The company also sells models such as Glanza and Rumion, which come from Maruti Suzuki India as part of a global collaboration between Suzuki and Toyota. It also imports Vellfires and LC 300s as Fully Built Assemblies (CBUs).
Earlier this year, TKM introduced a third shift at Bidadi to increase production capacity by about 30 percent until the waiting period for some models. The company invested more than Rs 90 crore to upgrade the existing infrastructure and added around 1,500 workers for the factory’s third shift. change.
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