Toyota Kirloskar Motor (TKM) has signed a Memorandum of Understanding with the Government of Karnataka to enhance its operations in the country through fresh investments. The new plant is expected to increase production capacity by 1,00,000 units annually and generate around 2000 additional jobs. TKM has invested INR 3,300 crores in a new plant in Bidadi, near Bangalore, India, marking its 25-year operations. The investment will boost the local manufacturing eco-system and introduce new technologies for “mobility for all.” The plant, the company’s third in India, will also create job opportunities due to expected growth in the supplier ecosystem.
The Karnataka government signed a Memorandum of Understanding with Toyota Kirloskar Motor, signed by Chief Minister Shri. Siddaramaiah and Managing Director Masakazu Yoshimura. The agreement was signed in the presence of Shri M. B. Patil, Minister for Large and Medium Industries and Infrastructure Development, Government of Karnataka along with other dignitaries and top executives of Toyota Kirloskar Motor. Shri M. B. Patil, Minister for Large and Medium Industries and Infrastructure Development, Government of Karnataka said, “With approximately 2 Lakh EVs registered in the State, Karnataka is steadfast in reshaping the mobility landscape”.
