Kia India has reopened bookings for the popular premium electric vehicle, the Kia EV6, and is offering some exciting benefits to the first 200 buyers. The company’s Chief Sales and Business Officer (CSBO), Myung-sik Sohn, announced that the bookings for the EV6 have started for 2023, and the company has expanded its EV dealership footprint to 60 outlets across 44 cities in India. With these developments, Kia India has moved closer to its customers, making it easier for them to access the new performance-driven drive experience of the EV6.
1. Toyota's Massive Investment: Rs 3,300 Crore for Cutting-Edge Plant
Toyota’s financial commitment to the new plant stands at a staggering Rs 3,300 crores. This substantial investment underscores the company’s confidence in the Indian market and signifies a major step towards fortifying its presence.
2. A Hub for Innovation: New Plant to Produce Three-Row SUV
At the core of this expansion is the establishment of a production base for an all-new three-row SUV. Anticipated to be a game-changer, this SUV is projected to be the cornerstone of Toyota’s future lineup. With an expected production capacity of 1 lakh units per annum, this plant is strategically positioned to be a hub of innovation and cutting-edge automotive technology.
3. Amplifying Production Capacity: Aiming for 30% Growth
Toyota’s existing plants at Bidadi collectively produce approximately 4 lakh units per annum. The addition of the new plant, operational by 2026, is poised to bolster the company’s production capacity by about 30%. This expansion announcement coincides with Toyota’s celebration of 25 years in India, making it a momentous occasion for the brand.
Toyota's Upcoming Three-Row SUV: A Glimpse into the Future
The focal point of this new plant will be the production of an upcoming three-row SUV, known by its codename, the 340D. This SUV, an extended version of the Corolla Cross available internationally, is projected to roll out at an impressive rate of 60,000 units annually, with an expected launch in 2026.
Design Innovation: Corolla Cross-Based SUV for India
The India-spec version of the Corolla Cross-based SUV will rest on Toyota’s TNGA-C platform, shared with the Innova Hycross. While globally, the Corolla Cross boasts a wheelbase of 2,640mm, the Indian version is expected to see an increase of about 150mm, accommodating a third row of seats.
Aesthetics and Differentiation
Although details on the styling are scarce, Toyota may opt for distinctive features to set it apart from the Corolla Cross. This could include a new front end with updated elements like a plastic bumper, grille, and headlights. The extended length will also pave the way for an entirely new rear end design.
Global Aspirations: Exporting the 340D SUV
While the 340D SUV is designed with the Indian market in mind, it is not an exclusive offering. Toyota plans to export this model to other markets, showcasing its global aspirations. However, whether a Maruti derivative will emerge from this SUV remains uncertain.
Future Prospects: IMV 0 Platform Enters the Indian Arena
Toyota’s commitment to innovation extends beyond the upcoming SUV. At the recently concluded Japan Mobility Show, the company introduced the new IMV 0 ladder-frame platform. Serving as a cost-effective alternative to the IMV platform underpinning models like the Innova Crysta and Fortuner, this platform is destined for India.
Diversification with IMV 0 Platform
The IMV 0 platform promises more affordable alternatives for vehicles like the Hilux pickup truck and Fortuner SUV. While its entry into the Indian market is confirmed, the specific plant responsible for its production is yet to be determined.
In conclusion, Toyota’s announcement of a third manufacturing plant in India signifies a pivotal moment in the company’s trajectory. With substantial investments, groundbreaking innovations, and a commitment to job creation, Toyota is poised to further solidify its presence in the dynamic Indian automotive landscape. The future, with the introduction of the three-row SUV and the IMV 0 platform, holds exciting possibilities for both Toyota and Indian automotive enthusiasts.
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