Toyota Kirloskar Motor Inks Rs 20,000 Crore Deal with Maharashtra Government

Toyota Kirloskar Motor has signed an MoU with Maharashtra for a Rs 20,000 crore investment in a hybrid and electric vehicle unit at Chhatrapati Sambhajinagar. The deal is expected to create 16,000 jobs and produce 4 lakh cars yearly.

Toyota Kirloskar Motor has formalized an MoU with the Maharashtra government, committing to an investment of Rs 20,000 crore for a new hybrid and electric vehicle manufacturing facility. The accord was sealed in the presence of Chief Minister Eknath Shinde and Deputy Chief Minister Devendra Fadnavis on Wednesday.

Chief Minister Shinde highlighted the significance of the project, stating it will generate approximately 16,000 jobs and produce 4 lakh cars annually. This investment marks a substantial contribution to Maharashtra's automotive sector.

Deputy Chief Minister Fadnavis emphasized the competitive edge gained by Maharashtra in attracting this critical investment, enhancing the state's standing within the automobile ecosystem. The expected output includes 8,000 direct and 12,000 indirect job opportunities. Toyota's expanded manufacturing footprint will also see them establishing a Green Field Manufacturing Facility in Chhatrapati Sambhaji Nagar.