New Delhi, May 11: Japanese auto major Toyota Motor’s plant for making automobile transmission units will commence production from the middle of next year. The plant is located on the outskirts of Bangalore.
Toyota Kirloskar Auto Parts, set up with an investment of Rs 360 crore to manufacture 1.6 lakh engine transmission units a year, will supply to Toyota’s plants in other countries.
The Indian firm is a three-way joint venture between Toyota Industries Corporation, Toyota Kirloskar Motors (TKM) and Kirloskar Systems. While Toyota Industries and TKM combine hold 90 per cent stake, Kirloskar holds 10 per cent.
TKM is the Indian arm of Toyota Motor Co. It makes the Corolla and Camry brand of higher priced cars along with Qualis.
Toyota Kirloskar Motors, set-up with a paid-up capital of Rs 700 crore, is a joint venture between Toyota Corp and the Kirloskar group.