KATHMANDU: Toyota Motor Corporation is planning to set up three new vehicle assembly plants in India. The move is part of its strategy to expand in emerging markets.
The company is expected to invest around $1.9 billion in new facilities in Maharashtra. With this expansion, Toyota will increase its total manufacturing units in India to six.
Toyota aims to triple its production capacity in India to 1 million units per year by 2030.
At present, Toyota operates three production plants in Bidadi, near Bengaluru. These plants mainly serve the domestic market. The new facilities will also support export demand.
Globally, Toyota has a strong manufacturing base. Its plants in Japan produce around 3.1 million units annually. The company’s China operations have a capacity of 2.2 million units. Its United States plants can produce about 1.5 million units per year.
