Japanese car manufacturer Toyota has declared an investment of Rs.1650 crores to increase of its Indian operations in the localisation of the components and the production capacity by one lakh units by 2014. And also the company stated that Toyota Kirloskar Motor (TKM) announced a further increase of production capacity to 3,10,000 units by 2013. The expansion will come with an investment of Rs.898 crores approximately and generation of new employment opportunities. It added that the production capacity at the first plant will be enhanced from 90,000 units to 1,00,000 units, while the output at the second plant will be increased to 2,10,000 units from 1,20,000 units.
The company said that the first plant will manufacture multi-purpose vehicle Innova and sports utility vehicle Fortuner. The second plant will roll out sedans Etios and Corolla Altis and hatchback Liva.TKM also said it will increase the localisation of components of the Etios and Liva, with Toyota Kirloskar Auto Parts Pvt Ltd (TKAP) planning to install and commission aluminum casting and machining lines by early 2014.It added that the installation will see an additional investment of Rs.750 crores approximately and generation of new employment opportunities.