Japanese automaker, Toyota, is prepping up to introduce a new mid-size SUV for the Indian market, codenamed 340D. Additionally, the company is planning to establish its third car plant in the country to ramp up production capacity.
Post Successful Partnership with Suzuki
This decision comes on the heels of a fruitful partnership with Suzuki Motor, which has bolstered Toyota’s domestic sales.
A media report claims that the initial production capacity of Toyota’s third plant will be 80,000-120,000 vehicles per year, which can later be escalated to nearly 200,000. Currently, the company operates at a capacity of 400,000 units per year in the country.
New Plant, New Production
Toyota has commenced work on a new SUV for the Indian market, expected to launch at the beginning of 2026. This new SUV, with a codename 340D, could be manufactured in the company’s new factory.
Positioned between the Urban Cruiser Highrider and the larger Innova Highcross MPV in the company’s portfolio, Toyota aims to produce 60,000 units of the new SUV annually, working alongside suppliers.
Powertrain Details Previous reports suggest that the upcoming C-SUV will be based on the new TNGA platform, which also underpins the Innova Highcross and the global model Corolla Cross.
It’s likely to have a long wheelbase with both 5 and 7-seat options. The SUV might come with a robust 2.0L hybrid powertrain, similar to the new Highcross.
Mini Land Cruiser on the Horizon
Due to the strategic partnership with Suzuki, Toyota’s sales have surged in India, with nearly 40% share in the total sales from Glanza hatchback and Urban Cruiser Highrider based on Baleno and Grand Vitara respectively.
Maruti Suzuki currently utilizes two-thirds of Toyota’s production capacity to manufacture vehicles for both automakers. Toyota aims to achieve a production capacity of 500,000 vehicles per year before the end of this decade.
According to a report, Toyota might also introduce a ‘Mini’ Land Cruiser in India as a CKD unit. The new mid-size SUV could compete with MG Hector and Mahindra XUV700.
Key Information Table
|New SUV Codename||340D|
|Expected Launch||Early 2026|
|Annual Production Target||60,000 units|
|Competitors||MG Hector, Mahindra XUV700|
Frequently Asked Questions:
- When is Toyota’s new SUV expected to launch in India?
- The new SUV is expected to launch at the beginning of 2026.
- What is the production target for the new SUV?
- Toyota aims to produce 60,000 units of the new SUV annually.
- What are the competitors for the new Toyota SUV?
- The new mid-size SUV could compete with MG Hector and Mahindra XUV700.
Toyota’s new venture reflects a significant stride in expanding its footprint in the Indian market, catering to the growing demand for mid-size SUVs.