TKM is based in Karnataka and already operates two manufacturing units near Bengaluru, in Bidadi. The company, along with its group firms, has invested over INR 16,000 crore in Karnataka and has created nearly 86,000 jobs within the entire value chain.
The company highlighted its export contributions, which total approximately INR 32,000 crore, emphasizing its export orientation.
"Today's MoU signing marks a pivotal point as we stride into the next phase of growth in the country enabling us to contribute to enriching lives with qualitative mobility solutions locally and globally," stated TKM Managing Director and Chief Executive Officer Masakazu Yoshimura.
The proposed investment, which remains subject to finalization, is expected to be spread over multiple years. This would likely result in significant job creation and economic development in the area.
Maharashtra Deputy Chief Minister Devendra Fadnavis noted the INR 20,000 crore figure for the plant in a social media post on X.
He wrote, "Transforming Maharashtra, Developing Marathwada! Reaffirming its commitment to India; Toyota Kirloskar Motors is set to launch a Green Field Manufacturing Facility in Maharashtra!"
Currently, TKM has an installed production capacity of 3.42 lakh vehicles across its two units in Bidadi.
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