Toyota Kirloskar Motor Signs MOU with Government of Maharashtra to Set Up Manufacturing Plant Toyota Kirloskar Motor (TKM) has signed an MOU with the Government of Maharashtra to explore the potential of setting up a Green Field Manufacturing Facility
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Toyota Kirloskar Motor (TKM) has reaffirmed its strong commitment to India, on Wednesday, by signing a Memorandum of Understanding (MOU) with the Government of Maharashtra. The agreement focuses on exploring the establishment of a new Green Field Manufacturing Facility at Chhatrapati Sambhaji Nagar. TKM, which is headquartered in Karnataka, already operates two state-of-the-art manufacturing units in Bidadi. These facilities are well-positioned to bolster India's standing in the global automobile industry. Operating under the core values of "Grow India - Grow with India," the company has been working extensively to expand its operations in alignment with key national priorities of skill enhancement, localization and development of the local ecosystem.
In Karnataka, the automobile maker and its group companies have invested over INR 16,000 crore, generating nearly 86,000 jobs throughout the entire value chain, including suppliers and dealer partners. This investment reflects Toyota's philosophy of manufacturing in India not only for the domestic market but also for global exports, with cumulative export contributions amounting to approximately INR 32,000 crore. Additionally, the company has positively impacted more than 2.3 million lives by supporting various social initiatives aimed at improving quality of life at the grassroots level.
"Toyota Motor Corporation believes that India is well positioned to become a global manufacturing hub for cleaner and greener mobility solutions. This belief was reinforced with the recent regional restructuring which elevated India to play central role by being integrated into the Middle East, East Asia & Oceania Region and acting as the hub of the new "India, Middle East, East Asia & Oceania Region". Today's MOU signing marks a pivotal point as we stride into the next phase of growth in the country enabling us to contribute to enriching lives with qualitative mobility solutions locally and globally," said Masakazu Yoshimura, MD and CEO of Toyota Kirloskar Motor and Regional CEO at Toyota Motor Corporation in a statement.
