Toyota Kirloskar Motor (TKM) India announced that it has signed a memorandum of understanding (MoU) with the Maharashtra government to establish a new manufacturing facility.

The proposed investment of approximately ₹20,000 crore is expected to be rolled out over several years, with the new greenfield plant planned for Chhatrapati Sambhaji Nagar.

The investment is set to significantly impact the region by creating thousands of jobs and driving economic growth.

The new facility will enhance TKM’s production and logistical capabilities, allowing the company to serve broader markets both domestically and internationally.

Masakazu Yoshimura, Managing Director and CEO of TKM and Regional CEO at Toyota Motor Corporation (TMC), highlighted India's strategic role in Toyota’s global manufacturing strategy.

“India is well positioned to become a global hub for cleaner and greener mobility solutions. This belief was reinforced by the recent regional restructuring, which integrates India into the new ‘India, Middle East, East Asia & Oceania Region’,” Yoshimura said. He emphasized that the MoU signing marks a crucial step in advancing Toyota’s growth and innovation in the automotive sector.