Toyota is investing Rs 3,300 crore in the new plant that will have a production capacity of 1 lakh units per annum.
Toyota has announced that it will set up a new manufacturing facility in India. The carmaker has signed a Memorandum of Understanding (MoU) with the government of Karnataka to set up its third plant.
Toyota’s new manufacturing unit will be situated close to its existing facilities at Bidadi near Bangalore. The company is investing Rs 3,300 crore in the new plant that will have a production capacity of 1 lakh units per annum. It is also expected to provide employment to about 2,000 individuals.
Toyota’s third plant will be operational by 2026. It will boost the brand’s total production capacity by 30% to 4 lakh units per annum.
Toyota will build its upcoming 3-row SUV at the new assembly line. The new model is said to be based on the TNGA-C platform and will be a modified version of the Corolla Cross sold in overseas markets.
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