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Beyond

Toyota to build SUV plant in Maharashtra by 2029

Toyota Kirloskar Motor has announced plans to set up a new manufacturing plant in Maharashtra, expanding its operations in India’s growing auto market.

The facility will be located in the Bidkin Industrial Area and is expected to begin production in the first half of 2029. Once operational, it will have an annual capacity of around 1 lakh vehicles.

The plant will focus mainly on producing a new SUV model, along with full vehicle manufacturing processes such as welding, painting, and final assembly. It is expected to generate about 2,800 jobs.

Toyota said the new unit is part of its long-term plan to strengthen its presence in India and meet rising demand, especially for SUVs, which remain one of the fastest-growing segments in the country.

With production set for 2029, the Maharashtra plant is expected to play a key role in Toyota’s future SUV lineup for both domestic and export markets.

The company also plans to use the facility to support exports to nearby international markets, making it part of a wider global supply strategy.

While investment details have not been disclosed, the project is seen as a major step in Toyota’s expansion in India, where it already operates manufacturing plants in Karnataka.

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Leaders

Michiko Kato to lead Toyota’s Woven Capital

Toyota has appointed Michiko Kato to key leadership roles, marking an important moment for the company. She is now the chief investment officer (CIO) of Woven Capital and the CEO of Toyota Invention Partners, becoming the first woman to lead a Toyota-owned subsidiary.

Kato has been with Woven Capital since it started in 2020 and has helped build its investment portfolio. In her new role, she will guide the company’s investment strategy and focus on finding new opportunities in areas like artificial intelligence, mobility, and advanced technology.

Woven Capital is Toyota’s investment arm that supports startups working on future technologies, including smart cities and automation. The company plays a key role in Toyota’s plan to move beyond traditional car manufacturing into new tech-driven areas.

Before joining Woven Capital, Kato worked with global organisations such as Morgan Stanley and the International Finance Corporation. She also served as chief financial officer at a Japanese AI startup, giving her strong experience in both finance and technology.

Along with Kato’s appointment, Mia Panzer has been named chief operating officer (COO) of Woven Capital. She will handle operations and support the company’s growth as it expands its investments.

These changes come as Woven Capital begins a new phase with an $800 million fund aimed at investing in growing technology companies.

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