Toyota has maintained a strong foothold in the Indian automotive market with its impressive SUV range including the Galanza and High Rider SUV. Alongside, the 7-seater Innova Highcross has also been a hot favorite among the masses. Now, as part of its market expansion strategy, the company is planning to introduce a new vehicle in the midsize SUV segment.
Code Name 340D: A Glimpse Into the Future:
According to recent reports, Toyota is in the preparatory phase of launching a new midsize SUV in the Indian market. The upcoming vehicle, codenamed 340D, is anticipated to make its debut by 2026.
This initiative is geared towards beefing up Toyota’s presence in the highly competitive midsize SUV sector, offering more options to the Indian consumers.
Expansion with a Third Plant:
Currently, Toyota has two operational plants situated in Karnataka, India. Latest insights, as reported by Reuters, reveal the company’s intention to set up a third plant in the same region.
The objective behind this expansion is to develop 60,000 units annually, boosting the plant’s capacity from 80,000 to 1,20,000 vehicles per year.
This development reaffirms Toyota’s commitment to catering to the growing demands of the Indian market, further bolstering its position in the competitive automotive industry.
|New Vehicle Codename||340D|
|Existing Plants||2 (in Karnataka)|
|Upcoming Plant||1 (in Karnataka)|
|Annual Production Goal||60,000 units|
|Increased Plant Capacity||From 80,000 to 1,20,000 vehicles per year|
With the introduction of the new midsize SUV and the expansion of its production capacity, Toyota aims to meet the evolving demands of the Indian consumers while ensuring a strong market presence in the coming years.