Toyota to set up R&D center and engine plant in India
by 7, June, 2010 0 |
Japanese car maker Toyota is looking into the likelihood of establishing a research and development facility and engine plant in India, the head of its joint venture said.
MD of Toyota Kirloskar Motor Hiroshi Nakagawa said Toyota presently conducts R&D in Japan and Thailand, among other places.
He said one of the alternatives being looked at now is to establish a R&D facility in India.
The proposal is under discussion and it is his ‘wish and hope’ that it would be set up later on.
Asked if the company desires to set up an engine plant in India, Nakagawa said, “If we have a chance, we should establish engine facility here in India also”. But he signalled that the company would consider establishing an engine plant only once its annual sales in India crosses 200,000+.
Nakagawa said TKM is recruiting 2,000 employees for its 2nd plant, being established at a cost of Rs 3,200 crore (Rs 32 billion).
In the current year, TKM is aiming for sales of 70,000 units from 55,000 in 2009.
He said TKM would commence manufacture of its compact car Etios, being built exclusively for the Indian market, towards the end of the present year.
Once this model is ‘accepted’ in India, the company would consider export opportunities of this car. In the 1st year, TKM is considering producing 70,000 units of Etios, Nakagawa said.
Get the best deals on loan offers
Some useful personal finance calculators
Also Read:
