Toyota to make engines, transmissions in India plant

Toyota-Kirloskar Auto Parts (TKAP) will manufacture engine and transmission parts for Toyota’s new car Etios at a new plant in Bidadi, near Bangalore, where the other two plants is situated. Etios is expected to hit the roads early next year. Approximately 110,000 engines will be produced per year starting in the third quarter of 2012 and approximately 240,000 transmissions per year starting in early 2013. TKAP will invest Rs500 crore (US$) and hire about 500 people for the new project, TKAP Managing Director Hisashi Suzuki, said. TKAP is jointly owned by Toyota Motor Corp. which has a 64% stake in the venture, while Toyota Industries has 26% and the Kirloskar Group has 10%. (July 6, 2010)