Toyota to Double Investment in Indian Plant

Nov. 5, 2008
New plant will produce 100,000 passenger vehicles

Toyota Motor said on Nov. 5 it would nearly double its investment in a new plant in India to 68 billion yen (US$683 million).

In April, Toyota announced a plan to invest 35 billion yen in a new factory on the site of a Toyota Kirloskar Motor (TKM) plant on the outskirts of the southern Indian technology hub of Bangalore. Toyota said on Nov. 5 it would spend another 33 billion yen on necessary equipment for a production line.

The new plant will start production in 2010 with annual output capacity of 100,000 passenger vehicles.

Toyota and other carmakers are competing to increase their share of the Indian market, where automobile sales are forecast to rise sharply as the economy expands and middle-class incomes rise.

Copyright Agence France-Presse, 2008

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!