Toyota’s Production Capacity in India: A Promising Expansion
In recent developments, the renowned Japanese automobile manufacturer, Toyota Motor Corporation, has initiated the process of expanding its production capacity in India. This decision comes as a promising move, given the company’s dedication to the Indian market. During the ‘Japan Mobility Show,’ a Toyota Motor Corporation board member and executive vice president, Yoichi Miyazaki, confirmed that the company is currently operating its two plants in India at full capacity.
Toyota’s Investment in Capacity Expansion
The burning question that arises is whether Toyota intends to make fresh investments to bolster its production capacity in India. In response to this, Yoichi Miyazaki stated, “We have started discussions on this matter.” He highlighted that the demand for high-end segment cars in India has significantly surged after the COVID-19 pandemic. According to Miyazaki, “Post-COVID, India’s market resurgence is considerably robust compared to other countries. In this scenario, we believe that the demand in India is very strong.”
Annual Production Capacity of Toyota in India
Toyota Kirloskar Motor, situated in Bengaluru, is a joint venture between Toyota Motor Corporation and Kirloskar Group. The collective annual production capacity of their two plants is 3.42 units. With the increasing demand for Toyota vehicles in India, the company now aims to establish a third plant in the country. Miyazaki expressed his optimism about the gradual growth of the Indian car market and the increasing acceptability of larger vehicles.
Toyota’s decision to expand its production capacity in India is not only a testament to its commitment to the Indian market but also reflects the growing demand for their vehicles. As India’s economy bounces back from the challenges posed by the pandemic, Toyota is ready to seize the opportunity and contribute to the nation’s growing automotive industry. This expansion is expected to create new jobs and offer more choices to Indian consumers.