Toyota’s success in the Indian car market needs no introduction. The slope of growth has always been positive for the automaker’s Indian domain. The latest announcement by the Japanese giant has indicated further growth and development prospects of the company in the country. As per the announcement, Toyota will begin its engine production at its Bangalore facility from the next month. The quantitative annual projected engine and transmission production count is as high as one lakh and 2.4 lakh respectively.
In fact Toyota Kirloskar Motor’s Deputy MD, Shekar Viswanathan confirmed that the production would commence next month. The company already dropped hints last year that it would set up an engine plant and would extend the transmission unit. The earlier announcements were made being optimistic that it would help in the production of Etios duo, requiring an investment of 500 crore INR.
Apart from the Jap automaker’s appreciable performance in the domestic market, Toyota has done pretty well in exporting its goods as well. Mr. Viswanathan affirmed the news by stating that the company has already shipped 1500 units of Etios and Liva to South Africa. It was at the National Conference on Chennai and Banglore Industrial Corridor (CBIC), organized by ASSOCHAM and the Chamber of Commerce and Industry Madras, where Mr. Viswanathan spoke about India’s potential in exporting small cars to global domain.
He said that India is becoming the base for export of small cars and that is something the company must promote. He further emphasised that the plan needs to be enmeshed with the various corridors that are being proposed. However, he concluded with the requirement of excellent Port access for the desired exports.
Let’s hope that the proposed plans that is to be executed churns out positive results in the domestic market and global markets too.
