The company may have chosen to invest in Maharashtra as part of its expansion plans, influenced by favours such as logistics. It was natural for industries to expand their operations to meet growing demands, and Toyota was no exception, he added.
Being headquartered in one state should not prevent a company from investing in other states. “Toyota Kirloskar’s investment in Karnataka will continue as it has been,” the minister said.
Last year, TKML signed up with the state government to establish its third car manufacturing plant in Bidadi, at an investment of Rs 3,300 crore. This follows a Rs 4,100 crore investment in 2022. The company has its headquarters as well as R&D facilities in Karnataka, Patil said.
Toyota on Wednesday signed up with Maharashtra pledging to invest Rs 20,000 crore to set up a greenfield manufacturing facility in a 850-acre plot at Chatrapati Sambhaji Nagar. The announcement triggered concerns in Bengaluru as the TKML announcement comes on the heels of a similar announcement by EV maker Ather recently. SANSERA INVESTMENT:
Earlier in the day, Sansera Engineering, a Bengaluru based manufacturer of precision-engineered components for both automotive and non-automotive sectors, signed an MoU with the State Government to expand its manufacturing capacity in Harohalli with an investment of Rs 2,100 crore over three to five years. The investment is expected to create 3,500 direct and indirect jobs.Sansera would direct this investment towards expanding its manufacturing capacity over a 55-acre plot in Harohalli in Ramanagara district, minister Patil said.
US multinational Otis Worldwide, known for its elevators and escalators, is likely to invest Rs 135 crore in a new unit at Harohalli industrial area.
The minister has responded positively to the company’s request for 12 acres of land.
