The new facilities will triple production capacity for the world’s biggest automaker to 1 million units in India by the 2030s, with total estimated investment of 300 billion yen ($1.9 billion), the paper said.Also
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In a statement, Toyota said it had made no decision on construction of a new factory, although it was constantly reviewing production arrangements, working in partnership with other stakeholders in every region where it operates.
Investments in India running into billions of dollars by Toyota, Honda and Suzuki signal the South Asian nation’s growing importance as a manufacturing hub, Reuters reported last year.
The new plants will bring to six Toyota’s tally of factories in India, the paper said, with three existing facilities in the south that primarily cater to the domestic market. The new plants will also handle exports, it added.
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The three new plants will make India its fourth-largest production base, the Nikkei said, adding that Toyota would also produce plug-in hybrid vehicles for environmentally conscious consumers.
Toyota is set to report results on May 8 for the financial year ending March 2026.
