Toyota to Build its Third plant in Karnataka, Production Capacity of 1 Lakh Units, Maruti Suzuki, Tesla, Honda

Toyota Kirloskar Motor (TKM), one of the big automobile companies, will set up its third plant in the country in Karnataka. For this, the company signed an MoU with the Karnataka government on Tuesday. With this, Toyota's production capacity can increase by one lakh units.

The company said that it will invest about Rs 3,300 crore in this plant to be built in Bidadi, Karnataka. This plant will provide employment to about 2,000 people. This Japanese company is planning to increase its production in the country. It has two plants in the country with a capacity of about 3.42 lakh units per year. Masahiko Maeda, chief operating officer of Toyota's Asia region, said the country's market is very important for the company. The new plant will also help the company increase its sales in the country.

Recently Toyota Motor Corporation achieved an important milestone. The company has crossed the total manufacturing mark of 30 crore vehicles, almost 88 years after manufacturing its first vehicle Model G1 truck. These include vehicles manufactured in the company's factories in Japan and other countries. In September this year, Toyota had achieved the figure of manufacturing 30 crore cars. Of these, more than 18 crore units have been manufactured by the company in its factories located in Japan and many other countries. Among these, Corolla has the maximum units of more than 53 crores. This sedan was first launched in 1966 and has undergone many changes since then. It is among the most popular cars worldwide. However, challenges have increased for Toyota over the past few years, including electric vehicles (EV).

Toyota also plans to launch a new SUV in the country. This also includes models sold under the brand of Maruti Suzuki. The company will be able to increase its production capacity by 30 percent with the third plant. The world's largest car maker in terms of production volume dominates the passenger vehicle segment in the international market but the company's sales in India are not high. Its models like Fortuner hold a large share in its segment but its position is weak in the small car segment.