Categories: News

Toyota preparing to set up third car plant in India, will start from 2026

Global automobile company Toyota has planned to set up a third plant in India to meet the increasing demand. The company has two plants near Bidadi and Bengaluru in Karnataka. Toyota expects sales to grow rapidly in India, the world’s third largest automobile market.

Toyota Kirloskar Motor (TKM) on Tuesday signed a memorandum of understanding (MOU) with the Karnataka government to set up a new production facility in the state. This new manufacturing plant of the company will become operational from 2026. After the new manufacturing facility starts, the company will touch the figure of 1 lakh units production annually.

The company’s annual production capacity in the country is about four lakh units. 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. This world’s largest car maker in terms of production volume has dominance in the passenger vehicle segment in the international market but the company’s sales in India are not high. Its models like Fortuner hold a big share in its segment but its position is weak in the small car segment.

2 thousand people will get jobs

Toyota has said it will invest around Rs 3,300 crore to build the new production facility in Karnataka, which will be its third manufacturing facility in India. Also, this plant has been claimed to create employment opportunities for about 2,000 people. The Japanese carmaker has claimed that the decision to set up the new manufacturing facility has been taken as part of the auto company’s strategy to increase local production in India.

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