Toyota Kirloskar Auto Parts to produce engines and transmissions for the Toyota Etios
A Joint Venture between Toyota Motor Corporation (TMC), Toyota Industries and Kirloskar Group - will produce engines and transmissions for the Toyota Etios.
Online, July 6, 2010 (Newswire.com) - Bangalore, July 6, 2010-Toyota Kirloskar Motor (TKM) today announced that Toyota Kirloskar Auto Parts Pvt, Ltd. (TKAP) - a joint venture between Toyota Motor Corporation (TMC), Toyota Industries and Kirloskar Group - will produce engines and transmissions for the Toyota Etios. The Etios concept was showcased early this year at the Delhi Auto Expo. The Etios will be produced in TKM's second plant, with an initial capacity of 70,000 units. The production of the vehicle, developed exclusively for the Indian market, is scheduled to begin in late 2010.
At TKAP, approximately 100,000 engines will be produced per year starting in the third quarter of 2012 and approximately 240,000 transmissions per year starting in early 2013. The new production at the plant represents an investment of approximately Rs. 5 billion. The plant will employ approximately 500 new employees.
TKAP currently produces manual transmissions for the "Fortuner" manufactured in India, Thailand and Argentina. It also produces axles and propeller shafts for the "Innova", manufactured in India. Production of engines and transmissions for the Etios will further localize parts production.
Commenting on the occasion Mr. Nakagawa, MD, Toyota Kirloskar Motor said, "The Etios has been designed specifically for the Indian market. The domestic production of engines and transmission will enable us to provide the best quality product, at a competitive price. India plays a vital role in Toyota's global expansion plans and this development marks another step towards Toyota's growth in India".
Mr. Hisashi Suzuki, MD, Toyota Kirloskar Auto Parts said, "Though TKAP is currently more of a global source for R-type manual transmissions, with the addition of these two new products, we will contribute more towards employment of local labour, develop local suppliers, showcase India and Karnataka in particular and above all delight our valuable customers in India.
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