Toyota Kirloskar Motor (TKM) on Wednesday formalized an agreement with the Maharashtra government to establish a greenfield manufacturing facility in Chhatrapati Sambhajinagar, focusing on the production of electric and hybrid vehicles. The Memorandum of Understanding (MoU) was signed at the Sahyadri Guest House in Mumbai. Chief Minister Eknath Shinde highlighted that this investment would transform the automobile industry in the state. The planned facility is set to produce 400,000 electric and hybrid cars annually, supported by an investment of Rs 20,000 crore. This project is projected to create 8,000 direct jobs and an equal number of indirect jobs, marking a significant boost to the region’s employment and economic landscape.
Deputy Chief Minister Devendra Fadnavis emphasized the project's role in driving regional development, stating, "Transforming Maharashtra, Developing Marathwada! Toyota Kirloskar Motors is committed to India with a new Greenfield Manufacturing Facility in Maharashtra!" The facility will be located on 850 acres at AURIC (Aurangabad Industrial City) in Chhatrapati Sambhajinagar. Toyota Kirloskar Motor, headquartered in Karnataka, currently operates two manufacturing units near Bengaluru.
The company has already invested over Rs 16,000 crore in Karnataka, generating nearly 86,000 jobs across its value chain and contributing around Rs 32,000 crore in cumulative export value. TKM Managing Director and CEO Masakazu Yoshimura described the MoU as a pivotal step in the company's growth, aiming to enhance mobility solutions both locally and globally. The substantial investment, to be made over several years, is expected to foster significant economic growth and job creation in the region.