Toyota Motor Corporation announces Regional Level restructuring with India poised to play a vital role

Toyota Motor Corporation (TMC) today announced a significant regional restructuring, As part of this development, Masakazu Yoshimura, MD and CEO of Toyota Kirloskar Motor (TKM) will concurrently be the Regional CEO. 

Appointed as MD and CEO of TKM in 2019, Yoshimura, having worked in countries such as Japan, China and South Africa, brings close to 30 years of automobile experience covering diverse fields such as Product Planning, Pricing, Sales and Marketing, among other functions.

During his tenure, TKM has successfully launched several products including the Urban Cruiser Hyryder, and the Innova Hycross, both with Hybrid Electric Vehicle variants and the Hilux.

With this change, India will now play an even more crucial role by being integrated into the Middle East, East Asia & Oceania Region and acting as the hub of the new “India, Middle East, East Asia & Oceania Region” starting January 1, 2024.

On November 21, 2023, the company announced fresh investments of Rs 3,300 crore involving the setting-up of a new plant by 2026, thus adding to capacity thereby resulting in a substantial boost to the local manufacturing eco-system, along with ushering new technologies to create “mobility for all. The new plant is expected to ramp up production capacity by 1,00,000 units, annually, and generate around 2000 numbers of additional employment.  

The new reorganisation, which underlines the growing significance of India in Toyota's global business landscape, reflects the increasing potential of the market upheld by its dynamic and skilled workforce.

Last year, in 2022, Toyota Group of companies, that included Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts (TKAP), had also announced an Memorandum of Understanding (MoU) with the Government of Karnataka to invest Rs 4,100 crore, aimed at making deeper cuts in CO2 emissions and enhance electrification and accelerate the shift towards greener technologies.