Toyota Kirloskar Motor (TKM), the Indian subsidiary of the Japanese automaker, Toyota Motor Corporation (TMC), has announced the completion of 25 years of its operations from Bidadi plant situated in the outskirts of the city. The company on Tuesday also announced a new plant to fuel its next level of growth.
Since its inception in 1997, TKM, a 89:11 joint venture between TMC and Vikram Kisloskar-owned Kirloskar Systems, sold over 2.3 million vehicles in India. The Toyota Group of companies, comprising TKM, Toyota Kirloskar Auto Parts and Toyota Industries Engine India, has invested more than ₹16,000 crore in Karnataka and created 88,000 jobs across its supply chains. In addition, the company’s social activities have touched the lives of 2.2 million across the country, explained Mazakazu Yoshimura, Managing Director and Chief Executive Officer, TKM.
To facilitate the next level of growth and expand its manufacturing capabilities at Bidadi, TKM announced a significant, fresh investment in Karnataka and the company has signed a memorandum of understanding with the government of Karnataka on Tuesday. The MoU was signed by Chief Minister Siddarmaiah, Minister for Large and Medium Industries and Infrastructure M.B. Patil and TKM management.
