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| Toyota will build second carmaking plant in India | |
11 April 2008 |
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Toyota is to build a second vehicle manufacturing plant in India alongside its first. The new plant will almost triple Toyota production in India when it opens in 2010. The new factory will be sited next to the existing plant of Toyota Kirloskar Motor (TKM) on the outskirts of Bangalore in Karnataka state. TKM's first plant started production late in 1999 and makes around 60,000 vehicles a year. It builds the Corolla and the Innova minivan for sale in India. The new plant is produce cars only, including the Corolla and a new compact vehicle yet to be announced. It will start with production of 100,000 vehicles a year in 2010, but Toyota says there are plans to increase that over time. The vehicles are all destined for the Indian market where Toyota says there has been rapid expansion in car ownership. The new plant is to cost around €220 million. TKM is owned 89 per cent by Toyota and 11 per cent by the local Kirloskar group.
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