Toyota Kirloskar Motor (TKM) and the Maharashtra government’s industries department will on Wednesday sign a memorandum of understanding (MoU) for the company to set up a Rs 25,000 crore automobile plant in Chhatrapati Sambhajinagar.
“Toyota Kirloskar Motor’s decision to invest in Maharashtra assumes importance. Once again, it has been established that Maharashtra is a favoured destination for investors,” deputy chief minister Devendra Fadnavis told.
This investment has potential to Indian youth to gets over 24000 job in this company and this company has a biggest multinational company.
Toyota) is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on August 28, 1937. Toyota is the largest automobile manufacturer in the world, producing about 10 million vehicles per year.
Toyota Motor Corporation entered India in 1997 in a joint venture with the Kirloskar Group. Toyota Motor Corporation (TMC) holds 89% of the share and the remaining 11% is owned by Kirloskar Group.[5] It is based in Bidadi, Karnataka, near Bengaluru.
The company released its first product in the Indian automotive market with the launch of the Qualis in 2000. Occupying the multi utility vehicle (MUV) segment, sales of the model grew within a short span of 2 years to capture 20 per cent market share from established local manufacturers such as Mahindra and Tata Motors. In 2002 and 2003, Toyota introduced the Camry and Corolla respectively.
In 2005, TKM launched the Innova to replace the Qualis, which is based on a modern IMV platform. Later, new models were introduced including the IMV series Fortuner SUV in 2009 and Hilux pickup truck in 2022. To support the new products, the sales and service network was developed further from 22 outlets in 2000 to 166 in 2011, and 359 in 2019.
Under the Entry Family Car (EFC) project, TKM started producing the Etios in 2010 as the company’s first entry-level model.
Production of the vehicle created more than 2,000 jobs at TKM’s newly-built second plant and approximately 500 jobs at Toyota Kirloskar Auto Parts Private Limited.
In 2017, Toyota introduced its luxury brand Lexus in the country.
