Toyota is infusing Rs 1000 crore in its Indian subsidiary, Daihatsu may make entry too
Advertisement
Toyota Motor Corporation has committed investment of over Rs 1000 crore in its Indian subsidiary, Toyota Kirloskar, in next couple of years. It will also invest in a new engine plant and new projects like Innova , Fortuner and mid-size sedan.
The carmaker is also mulling to introduce Daihatsu brand, a Toyota subsidiary that makes small cars and compact utility vehicles, in India.
In an exclusive interview with Economic Times, Toyota Motor Chairman TakeshiUchiyamada said, “We can expect a lot of growth and development in India. As for our investment, the latest investment has gone into the new engine manufacturing units, which will start operation next year and there is a plan for a new model change, which will call for further investment in India.”
If everything goes as planned,Daihatsu may enter India by 2018-19.
Toyota Kirloskar has made profits of over Rs 500 crore in FY-15. This year, the carmaker did not launch new vehicles, but concentrated on building a brand franchise.
The company has plans to rely on the all new Innova, which is planned for first half of 2016, and Fortuner, which will come during 2016 festive season.
Reportedly, Toyota is planning to produce about 90,000 units of Innova annually and 30,000 units of Fortuner.
In a market that grew by 7% in the first four months of this fiscal year,Toyota Kirloskar Motor has grown in tandem with the market.
Also, Toyota plans to increase the average localisation to over 85% in the coming few years, from 65-70%.
(Image: Reuters)
Advertisement
The carmaker is also mulling to introduce Daihatsu brand, a Toyota subsidiary that makes small cars and compact utility vehicles, in India.
In an exclusive interview with Economic Times, Toyota Motor Chairman TakeshiUchiyamada said, “We can expect a lot of growth and development in India. As for our investment, the latest investment has gone into the new engine manufacturing units, which will start operation next year and there is a plan for a new model change, which will call for further investment in India.”
If everything goes as planned,
Toyota Kirloskar has made profits of over Rs 500 crore in FY-15. This year, the carmaker did not launch new vehicles, but concentrated on building a brand franchise.
Advertisement
Reportedly, Toyota is planning to produce about 90,000 units of Innova annually and 30,000 units of Fortuner.
In a market that grew by 7% in the first four months of this fiscal year,
Also, Toyota plans to increase the average localisation to over 85% in the coming few years, from 65-70%.
(Image: Reuters)
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market