The Japanese auto giant Toyota’s joint venture in India is to produce engines and transmissions for a compact passenger car newly developed for the Indian market.
Production of the ’Etios’ vehicle by Toyota Kirloskar Auto Parts (TKAP) is scheduled to begin later in the year.
Formed in April 2002, the company, which employs around 800 people on a 202,000m2 site, currently produces 52,000 front and rear axles per year, 52,000 propeller shafts and 170,000 manual transmissions.
Now, TKAP plans to manufacture approximately 100,000 engines per year starting in the autumn of 2012 and approximately 240,000 transmissions per year starting in early 2013.
Production for the Etios represents an investment of approximately JPY9bn and approximately 500 new jobs.
TKAP currently produces its manual transmissions for vehicles such as the Fortuner, which is manufactured in India, Thailand and Argentina, and axles and propeller shafts for the Innova, which is made in India.
Production of engines and transmissions for the Etios will make India an important production base, not only for vehicles but also for major components.