Japanese auto major Toyota Kirloskar Motor Pvt. Ltd. is planning to assemble mid-class luxury sedan Camry at its Bengaluru facility from July at an estimated cost of Rs.1,398 crore and expects to roll it out in August, reports said, quoting Deputy Managing Director Sandeep Sing.
As part of the phase-II expansion, the company plans to invest Rs.898 crore for adding 100,000 units by 2013. This would add to a total capacity of around 310,000 units a year in Toyota's two plants in Bengaluru. Besides, it would be investing around Rs.500 crore in engine and transmission facility. The engine plant would commence by the third quarter of this year and transmission by January-March 2013.
Speaking to reporters after flagging off Etios exports to South Africa for the first time, he said so far the Camry had been imported and the company plans to start assembling at its Bengaluru unit.
"Our focus in India will be semi-urban and rural markets, to support our growth," he said, adding that the number of dealers would be increased from 173 to 225 by year-end.
Commenting on the localization, Singh said, Etios localization was currently 70 percent and it would be increased to 90 percent over the next two years. Etios is the largest localized product for Toyota in India. Localisation in other models, like Innova and Fortuner, is around 50 per cent.
Meanwhile, Toyota today flagged off its first export consignment of 247 units of the Etios series to the South African market via Ennore Port.
"We are planning to export 20,000 units annually only to South Africa, starting from this year. Our focus will be only South Africa, for now," Managing Director Hiroshi Nakagawa said.
The export model of the Etios and Liva, in petrol variants, are built on the same platform as the original models, which are manufactured and sold in India. Etios is currently manufactured in Toyota's second plant located in Bidadi industrial area on the outskirts of Bengaluru and the export model will also be manufactured in the same plant.
by RTT Staff Writer
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