Toyota aims to make India its biggest component sourcing hub in next five years, Vikram Kirloskar, Vice-Chairman, Toyota Kirloskar Motors (TKM), said on Thursday. He was speaking at the Society of Indian Automobile Manufacturers’ 52nd annual convention.
A group company, Toyota Kirloskar Auto Parts, is investing Rs 500 crore to increase output of transmission for vehicles such as Etios and Innova from 1.7 units to 2.4 lakh units a year. These will be exported to markets such as Brazil, where the Etios is being launched. The investment is separate from a Rs 900-crore investment to expand car output at TKM by a lakh annually to 3.10 lakh.
Increase in Exports
Asked about exports of Etios to South Africa, Kirloskar said: “The response has been good. They’re asking for more than what was planned.” TKM will send 10-15 per cent more Etios models to South Africa than the 20,000 units initially planned.