Bangalore, Apr 11: Toyota Kirloskar Motor Private Limited (TKM) today announced building a second plant by Toyota Motor Corporation with an investment of Rs 1400 Crore. The second Plant, at the present TKM site on the outskirts of the City, was expected to begin operations in 2010 with an initial annual production capacity of 100,000 vehicles with plans to increase the number over time.
TKM plans to produce passenger vehicles, including Corolla as well as a new strategic small car, which is being developed with aim of meeting the broad needs of customers in India, where motorization is expanding rapidly. Further it also plans to export them in the future, according to a release here.
The production, after second plant becomes operational in 2010, would touch 160,000 from the present 60,000 units. In 2007 the company had produced approximately 62,000 units and had sold about 54,000 vehicles.