Toyota Kirloskar has announced its intentions to invest Rs 3,300 crore in the establishment of its third plant in Bidadi, Karnataka.

The new facility will start producing in 2026 and be able to produce one lakh units a year in two shifts.

The location of the new facility is close to Bidadi, where the company already operates two units with an installed manufacturing capacity of up to 3.42 lakh units yearly.

Vikram Gulati, Executive Vice President & Country Head of Toyota Kirloskar Motor (TKM), told PTI that the new factory will be "future ready" to roll out models stretching across various fuel technologies.

"I believe, we are as a company future-ready, both in terms of access to technology, access to well-accepted products across various powertrains as also access to the ability to bring these products to market," he said.