Toyota aims to make India its biggest component sourcing hub in next five years, Vikram Kirloskar, Vice-Chairman, Toyota Kirloskar Motors (TKM), said on Thursday. He was speaking at the Society of Indian Automobile Manufacturers’ 52nd annual convention.
A group company, Toyota Kirloskar Auto Parts, is investing Rs 500 crore to increase output of transmission for vehicles such as Etios and Innova from 1.7 units to 2.4 lakh units a year. These will be exported to markets such as Brazil, where the Etios is being launched. The investment is separate from a Rs 900-crore investment to expand car output at TKM by a lakh annually to 3.10 lakh.
Increase in Exports
Asked about exports of Etios to South Africa, Kirloskar said: “The response has been good. They’re asking for more than what was planned.” TKM will send 10-15 per cent more Etios models to South Africa than the 20,000 units initially planned.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.