New Delhi, July 27: Toyota Motor Corporation will invest around Rs 1,648 crore over the next 2-3 years to increase capacity and enhance local production of components.
Toyota Kirloskar Motor, the Indian unit of the Japanese auto maker, today said it would raise its annual capacity to 3,10,000 units by 2013 at an investment of Rs 898 crore.
“In line with the growing demand for our vehicles, we have decided to expand production,” said Hiroshi Nakagawa, managing director of Toyota Kirloskar Motor.
The auto maker will increase capacity at its first factory — which makes the Innova and Fortuner — to 1,00,000 vehicles from 80,000. The capacity at its second plant, which is for the Etios, Etios Liva and Corolla Altis, will go up to 2,10,000 vehicles from 80,000 units.
Toyota’s local auto parts manufacturing unit — Toyota Kirloskar Auto Parts — will install aluminium casting and machining lines at the new Etios and Liva petrol engine plant, scheduled to start operations in the third quarter of 2012.
The installation will require an investment of Rs 750 crore and will start from 2014. It will raise the localisation levels of the Etios and Liva to 90 per cent from 70 per cent.
Toyota Kirloskar Auto Parts will also start producing transmissions (gearboxes) for the Etios and the Etios Liva in early 2013. The company is also planning the export of transmissions.
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