Lucknow Press
The world’s renowned vehicle manufacturer Toyota is going to set up a new plant in Maharashtra. Earlier, the company has set up two manufacturing units in Biddi, Karnataka. Their current production capacity is 3.42 lakh vehicles.
Toyota in Maharashtra will invest up to Rs 20,000 crore for this. Toyota said in a statement that a Memorandum of Understanding (MoU) has been signed with the Maharashtra government to explore setting up a new manufacturing plant in Chhatrapati Sambhaji Nagar, Maharashtra.
The agreement signed for manufacturing hybrid cars
Toyota has invested more than Rs 16,000 crore in Karnataka through its group companies and this has created around 86,000 jobs. The company on Wednesday signed an agreement with the Maharashtra government for the manufacture of electric and hybrid cars.
Maharashtra CM Eknath Shinde said that this project will bring a revolution in the automobile sector. TKM MD and CEO Masakazu Yoshimura said that with this MoU, we are entering the next phase of growth in India. With this, we will be able to contribute to enriching lives with quality vehicles at the local and global level.
