Toyota Kirloskar Motor (TKM) has signed a Memorandum of Understanding (MOU) with the Government of Karnataka to enhance its operations in the country through fresh investments. The investment worth around INR 3,300 crores, will involve the setting up of a new plant, which will boost the local manufacturing eco-system and introduce new technologies to create “mobility for all”.
This will be the company’s third plant in India, all located in Bidadi near Bangalore. Toyota Kirloskar Motor’s Managing Director and CEO, Masakazu Yoshimura, expressed confidence that the MOU with the Karnataka State Government for a new plant will generate employment and promote clean technologies, focusing on energy security, economic growth, and carbon neutrality.
The investment is part of TKM’s long-term commitment to building upon its 25-year history and contributing to the Prime Minister’s vision of “Amrit Kaal” (Golden Era). The new investments will also boost the local ecosystem by spurring the growth of its supplier base, creating further jobs, and supporting local community development in Karnataka. The MOU was signed and exchanged by Hon’ble Chief Minister Shri. Siddaramaiah, Government of Karnataka, and Mr. Masakazu Yoshimura, Managing Director and Chief Executive Officer, Toyota Kirloskar Motor.
