Kolkata, Apr 11(UNI) Toyota Kirloskar Motor Private Limited (TKM) today announced that Toyota Motor Coporation (TMC) would build a second plant in the country.
The proposed plant, to be set up at the TKM site near Bangalore, would begin operations in 2010 with an initial capacity of around 100,000 vehicles, while the company has plans for further capacity expansion with an approximate investment of Rs.1,400 crore, company sources said.
The plans call for the second TKM plant to produce passenger vehicles, including the Corolla as well as a new strategic small car, which was being developed with the aim of meeting the broad needs of customers in India, where motorisation was expanding rapidly, they said.
TKM will strive to achieve high local procurement levels for the new strategic small car. In terms of sales, the company intends to increase the dealerships from its existing level in future, the sources added.
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