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| Engines, Transmissions to Increase Local Content of 'Etios' Compact |
BANGALORE, INDIA, Feb 24, 2011 - (ACN Newswire) - Toyota Motor Corporation (TMC) held a groundbreaking ceremony here today to mark the beginning of construction of a new plant of Toyota Kirloskar Auto Parts Pvt Ltd (TKAP), TMC's joint venture auto-parts manufacturing company in India.
At the plant, TKAP plans to produce approximately 100,000 engines per year starting in the autumn of 2012 and approximately 240,000 transmissions per year starting in early 2013, increasing local content of the made-in-India "Etios" compact car. Production represents an investment of approximately 9 billion yen and approximately 500 new jobs.
The production of engines and transmissions for the Etios will enhance the production and supply base position of TKAP, which currently produces manual transmissions for the Innovative International Multi-purpose Vehicle (IMV) Project*.
As a part of its sustainable growth strategy, TMC intends to increase local production in line with expansion in emerging markets. TMC, based on its founding philosophy of contributing to society through the manufacture of automobiles, is committed to providing vehicles in India that meet consumer expectations in terms of being both reasonably priced and suited to local conditions. TMC also aims to contribute to the development of the automotive industry in India through the employment of additional personnel in conjunction with the start-up of the new plant.
Toyota Kirloskar Auto Parts Pvt Ltd (as of February 1, 2011)
Location Bidadi (32 km southwest of Bangalore),
Karnataka, India
President Hisashi Suzuki
Equity participation TMC: 64%;
Toyota Industries Corporation: 26%;
Kirloskar Systems Ltd.: 10%
Establishment April 2002
Products (capacity) Front and rear axles (52,000 units/year);
propeller shafts (52,000 units/year);
Manual transmissions (170,000 units/year)
Site area 202,000 m2
Start of production July 2002
Employees Approx. 890
*Aimed at creating an optimal production and supply network on a global scale; consists of three pickup trucks, a minivan and an SUV.
Contact:
Toyota Motor Corporation
Corporate Communications Department
Public Affairs Division
Tel: +81-3-3817-9150
Topic: Construction of Facility
Source: Toyota Motor Corporation
Sectors: Automotive
http://www.acnnewswire.com
From the Asia Corporate News Network
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