Toyota Kirloskar Motor (TKM) has announced that the company aims to build its elegant sedan, the Toyota Camry at its Bengaluru facility starting July 2012. The company has also confirmed its plan of introducing the new 2012 Toyota Camry in the Indian market by August 2012.
The company is planning to invest close to Rs 8.98 billion, as part of its phase-II expansion plans in the country. The additional investment to be infused at Toyota's facility in Bengaluru, will ramp up the production capacity by 100,000 units, taking the total capacity of the plant to 310,000 units annually. The company is also aiming to bump up the localization of its Etios series, which currently stands at 70 per cent to 90 per cent over the next two years.
TKM deputy managing director Sandeep Singh said the company's focus in India would be semi-urban and rural markets, to support its growth and also to increase the number of dealers from 173 to 225 by year-end.
Also, Toyota is planning to invest Rs 5 billion in its engine and transmission plant, which is expected to start by the third quarter of this year and transmission plant by January-March next year.