According to a media source, Toyota intends to establish a new electric vehicle manufacturing in Maharashtra as part of its strategy to increase its presence in the country. The carmaker reportedly obtained 335 hectares of land for the project through its local joint venture, Toyota Kirloskar Motor (TKM).
The facility, which is scheduled to start operations in January 2026, is anticipated to build 400,000 electric and hybrid cars a year. This enormous project is expected to generate 18,000 indirect jobs in addition to 8,000 direct jobs. With an anticipated cost of €2.17 billion, Toyota is clearly committed to the expanding electric vehicle (EV) industry in India.
Speaking of investments, Toyota plans to contribute $500 million more to Joby Aviation, a business that manufactures electric air taxis for use in commercial passenger transportation. With this finance, Joby will be able to fulfill its shared goal of air transportation and begin producing its electric air taxi on a wide scale in addition to gaining certification.