Toyota shifts gears to India with three new assembly plants in Maharashtra

Toyota Motor plans to build three vehicle assembly ​plants in India's western ​state of Maharashtra as automakers shift focus to ​emerging markets from stagnating ones such as the United States and China, the Nikkei newspaper said on Friday.

The new facilities will triple production ‌capacity for ⁠the world's ⁠biggest automaker to 1 million units in India by the 2030s, ​with total estimated investment of 300 billion yen ($1.9 billion), the paper said.Also

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In ​a statement, Toyota said it had made no decision on construction of a new factory, although it was constantly reviewing ​production arrangements, working in partnership with ⁠other stakeholders ‌in every region where it operates.

Investments in ​India running ​into billions of dollars by Toyota, Honda ⁠and Suzuki signal the South Asian nation's growing ​importance as a manufacturing hub, Reuters reported last ​year.

The new plants will bring to six Toyota's tally of factories in India, the paper said, with three existing facilities in the south that primarily cater to the domestic market. The new plants will also handle exports, it ‌added.

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Toyota has a production capacity of 3.1 million units in Japan, 2.2 million in China and ​1.5 million ​in the United ⁠States, says Japanese research company Fourin.

The three new plants will make India its fourth-largest production base, the Nikkei said, adding that ​Toyota would also produce plug-in hybrid vehicles for environmentally conscious consumers.

Toyota is set to report results on May 8 for the financial year ending March 2026.