Toyota Kirloskar Motor plans to boost its manufacturing capacity with an investment of Rs 900 crore to produce an additional 100,000 cars by March at its two plants at Bidadi on Bangalore outskirts, senior company officials said today.
The annual production capacity at the first plant, where TKM manufactures Innova and Fortuner, would go up by 10,000 from the present capacity of 90,000 units, said K Srikanth, Senior Vice President (External Affair, Corporate Governance, Legal and CSR) and Sailesh Shetty, Vice President (Sales).
The annual production capacity at its second plant, where Corolla Altis, Etios, Etios Liva and New Camry are produced, would be scaled up to 210,000 from the current 120,000, they said.
"We will be investing Rs 900 crore to ramp up the production capacity in our two plants by March next year", Srikanth and Shetty said, as TKM launched the New Camry, which will be assembled at a Rs 18 crore separate assembly line within the second plant.
Localisation in the New Camry, a mid-sized sedan priced at Rs 23.8 lakh (ex-showrroom Bangalore) and primarily targeted at those having a monthly income of Rs 4 lakh-plus, is about 10%, Srikanth said.
TKM sold 111,000 units in seven months (January-July) of the current calendar year, up 57% compared to the same period in 2011, Shetty said.
The company has targeted to sell 180,000 units in the whole of 2012, up from 133,000 in the previous calendar year.