Apr. 16, 2002
Toyota Establishes Transmission Joint Venture in India
Tokyo― TOYOTA MOTOR CORPORATION (TMC) announced today that TMC, Toyota Industries Corporation (TICO) and Kirloskar Systems Limited (KSL) of the Kirloskar Group are establishing a joint venture to build manual transmissions in India. Toyota Kirloskar Auto Parts Limited, in the southern city of Bangalore (the capital of the state of Karnataka), will have an annual production capacity of 160,000 units and is scheduled to go on line in mid-2004.
The three companies made the announcement at a press conference at 16:30 (20:00 JST) in Bangalore attended by TMC Director Akira Okabe, Kirloskar Toyoda Textile Machinery Limited President Akinari Takahashi and Kirloskar Group Chairman Atul Kirloskar, among others. Representing the Karnataka government were Chief Minister S.M. Krishna and Minister for Industries R. V. Deshpande.
Toyota Kirloskar Auto Parts Limited aims to engage in the efficient production of high-quality manual transmissions by combining TMC's developmental technologies, TICO's production technologies and KSL's manpower and existing assets. It is being created by separating KSL's existing front/rear axle- and propeller shaft-production business from KSL and by infusing funds from TMC and TICO.
| Company name | Toyota Kirloskar Auto Parts Limited |
| Location | Bidadi, Bangalore, Karnataka, India (on KSL premises) |
| Planned capital and equity share | 3.375 billion rupees (approx. 8.8 billion yen*), TMC: 64%, TICO: 26%, KSL: 10% (On April 10, 2002, KSL made a preliminary investment of 0.1 million rupees, or approx. 0.26 million yen, to have the company registered.) |
| Senior Executives | Managing Director: Kiyomichi Ito (seconded from TMC) Deputy Managing Directors: Hideki Morino (seconded from TICO) and Yasushi Kyoda (director, Toyota Kirloskar Motor Ltd.) |
| Products (Production capacity) | Manual transmissions (160,000 units/year); Front/rear axles (50,000 units/year each); propeller shafts (50,000 units/year) |
| Site area | Approximately 200,000m2 |
| Building area | Approximately 13,000m2 |
| Investment | 2.3 billion rupees (approx. 6 billion yen*) |
| Establishment | April 10, 2002 |
| Production start | Around June 2004 |
| No. of employees | 400 (180 current employees of KSL's parts manufacturing business and 220 new employees) |
*At 1 rupee = 2.6 yen
