The Indian unit of the Japanese auto giant Toyota Motors is likely to establish their third Greenfield plant in India in the coming years. Toyota Kirloskar Motors is planning to expand their operations in Tamil Nadu, where the new plant is likely to the established. It is to be mentioned here that the company currently has two plans at Bidadi, which are just a few kilometers from their upcoming Hosur plant.
Toyota Kirloskar Motors is currently one of the fastest growing car makers in the Indian market. The existing two plans of the company will be having a total capacity of 3.1 lakh units by year 2013. In the first five months of this financial year, the company managed to sell a total of 73,148 cars in the Indian market, registering a growth of 34 percent of the same period previous fiscal. By year 2015-16, the firm plans to have a total production capacity of 4 lakh units per annum.
While speaking on the company’s plans, a senior TKM executive of the company said to ET, "We have enough capacity to meet the domestic market demand and targeted exports to few markets like South Africa. We would like to sweat our assets before going in for any further expansion in the fast-changing Indian auto market."
