Toyota Kirloskar Motor working on setting up their second manufacturing plant

Toyota’s Indian venture Toyota Kirloskar Motor could invest Rs 2,000 crore in India for setting up its second plant in the country.

The company is aiming to achieve sales target of two lakh cars by 2010. They have already received proposals from as many as 4 Indian states for this venture.

Toyota is also considering launching a compact car in India to enter the ever growing market segment. The company currently sells models including Corolla, Camry, Prado and Innova in India.

A Toyoshima, managing director of TKM said in a statement: “The Company is in the process of studying how to grow in the Indian market. The decision will be taken at the right time. The investment in the second plant will be more than our investment in the first plant at Biddadi. I cannot say where it will come up.”

Their Biddadi plant has a capacity to produce 60,000 cars. Toyoshima added that the company currently has no plans to buy out Kirloskar group in TKM.