Toyota plans Rs 1,500cr capex in India

Toyota Motor Corporation is planning to invest Rs 1,500 crore to expand operations in India.

Toyota Kirloskar Motor, the joint venture between Toyota and the Kirloskar group, has submitted a proposal to the Karnataka government to set up its second car manufacturing plant.

"We want to be present in all segments in India from large to mini in the future," Atsushi Toyoshima, managing director of  Toyota Kirloskar Motor, said.

A Toyota Kirloskar Motor delegation, led by Toyoshima, met CM N Dharam Singh and industries minister P G R Sindhia today, and briefed them about the proposed expansion plan.

The proposal is scheduled to come up before the high-level committee, to be chaired by the CM, on October 6.