The new plant, apart from producing multi-utility vehicle Innova HyCross, will be ''future ready'' to roll out models spanning across different fuel technologies, Toyota Kirloskar Motor (TKM) Executive Vice President & Country Head Vikram Gulati told PTI. The third plant will create 2,000 jobs, adding to the current 11,200 strong workforce across the existing two plants, he added. In a statement, Toyota CEO Asia Region Masahiko Maeda said, ''The Indian market has always been of great importance of us. Last year, Toyota group firms comprising TKM and Toyota Kirloskar Auto Parts had signed an MoU with Karnataka government to invest Rs 4,100 crore to enhance electrification, fast paced shift towards greener technologies and deeper cut in CO2 emissions. So far Totoya has invested a total of Rs 16,000 crore in India on various activities.

Source: Economic Times November 21, 2023 18:53 UTC