Toyota to invest ₹ 3,300 crore for new unit in Karnataka
Bengaluru Japanese carmaker Toyota is investing Rs 3,300 crore for a new plant in India, taking its accretive investment in the country to about Rs 20,000 crore and adding new capacity to its product of one lakh units by 2026.
The company joins compatriot Maruti Suzuki, Korean siblings Hyundai and Kia and locals Mahindra & Mahindra and Tata Motors in making new investments to boost India’s eventuality. While Maruti is investing Rs 50,000 crore by 2030- 31, Hyundai will invest over Rs 20,000 crore in the coming decade. Mahindra & Mahindra is investing Rs 10,000 crore for the electric vehicle factory, while Tata Motors will invest around Rs 24,000 crore by 2027.
Toyota, which is also a mate in India under a mega agreement with Maruti Suzuki’s parent company Suzuki, is floundering to meet demand in the request despite starting its third innings this time. Variants of some models like the Innova Hycross MPV formerly have a staying period of over a time. Due to the deficit, the company has also stopped reserving the top- end variants of the Hycross and the CNG interpretation of the Rumion CNG.
