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Toyota steps up investment in small car plant

 

 

Japanese auto major Toyota Motor Corporation (TMC) will invest an additional Rs 800 crore in its small car plant coming up at its facility in Bidadi near the city.

Speaking to reporters here; Industry Minister Murugesh R Nirani said the company had begun the expansion of its second plant to build the small car for the Indian market at a cost of Rs 3,200 crore. ''Toyota has agreed to invest an additional Rs 800 crore in the second phase of expansion,'' he said. A company official confirmed the additional investment but said the company had sought an additional 40 acres of land near the plant for the ancilliary industry.

Toyota is manufacturing the popular MUV Innova and mid-segment luxury car Corolla Altis. It is also offering the imported lucury sadan Toyota Camri. The first plant, set up in 1999, has an installed capacity of one lakh units per annum. It currently employs about 2,800 people.