Toyota's Greenfield Venture Sparks India's EV Revolution

Toyota Kirloskar Motor has been allotted 827 acres in Maharashtra for a new manufacturing plant focused on electric and hybrid cars, aiming to produce 4 lakh vehicles annually. The Rs 21,000 crore project aligns with efforts to boost the automobile sector, promising significant employment opportunities.

Toyota Kirloskar Motor (TKM) has taken a significant step in India's automotive landscape by securing a vast 827-acre land in Maharashtra's Chhatrapati Sambhajinagar for a new manufacturing facility, an official announced.

On July 31, TKM inked a pivotal agreement with the state government to establish a greenfield plant dedicated to electric and hybrid car production. This initiative comes under a broader smart industrial city project jointly managed by the Central and Maharashtra governments through the Maharashtra Industrial Township Limited (MITL).

At a projected investment of Rs 21,000 crore, TKM aims to commence operations by January 2026, potentially revolutionizing the automobile sector by hosting a manufacturing capacity of 4 lakh vehicles per year. The venture is expected to create 8,000 direct and 18,000 indirect job opportunities.

(With inputs from agencies.)