Toyota City, Japan, April 4, 2012—Toyota Motor Corporation (TMC) announces that Toyota Kirloskar Motor Pvt. Ltd. (TKM), its production and sales subsidiary in India, held a ceremony today at Ennore Port near Chennai, India to mark the beginning of exports of TKM-produced "Etios"-series sedans and hatchbacks to South Africa. TKM expects to export a total of 20,000 vehicles a year.
The ceremony, held as the first South-Africa-bound Etios was loaded onto a ship at Ennore Port, was attended by approximately 200 guests, including the Karnataka State Minister for Home and Transport R. Ashoka, Karnataka State Minister for Large and Medium Scale Industries Murugesh R. Nirani, TKM Vice Chairman Vikram Kirloskar and TKM Managing Director Hiroshi Nakagawa. At the ceremony, Nakagawa said: "Today we have reached another milestone in our journey in India."
The start of vehicle exports from India represents an expansion beyond India's domestic market for TKM and a commitment by TMC to develop India into a production and supply base for vehicles and transmissions.
In line with its Global Vision released in March of last year, TMC is positioning emerging markets as a priority and is aiming to increase sales in those markets. To match the growth of India's automobile market, TKM's annual production capacity is scheduled to increase from its current 210,000 vehicles to 310,000 vehicles in 2013.
Toyota will continue its efforts to manufacture cars that provide joy and exceed customer expectations in each respective region while also working to contribute to the building of better communities and societies.
Outline of Toyota Kirloskar Motor Pvt. Ltd.
|Managing Director||Hiroshi Nakagawa|
|Establishment||October 6, 1997 (start of production: December 1999)|
|Location||Suburb of Bangalore, Karnataka State, India|
|Products||Innova, Fortuner, Corolla, Etios and Etios Liva|
|Capital||7 billion rupees|
|Equity participation||TMC: 89%|
|Kirloskar Group: 11%|
|Employees||Approx. 6,200 (as of February 29, 2012)|