Toyota Motor Corporation (TMC) on Friday announced a regional restructuring with a view to reemphasising the country’s role in the company’s global strategy.
“Currently, as a part of the Asia Region, the Indian market already enjoys high priority. With this change, the country would play an even more crucial role by being integrated into West Asia, East Asia and Oceania Region and would emerge as the hub of the new “India, Middle East, East Asia & Oceania Region” starting January 1, 2024, TKM said in a statement.
The rejig underlines the growing significance of India in Toyota’s global business landscape, reflecting the increasing potential of the market upheld by its dynamic and skilled workforce, the company said.
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, Mr. Yoshimura, having worked in countries such as Japan, China and South Africa, brings close to 30 years of rich automobile experience covering diverse fields such as Product Planning, Pricing, and Sales and Marketing, the Japanese car maker said.
During his tenure, TKM has successfully unveiled several world-class products including the Urban Cruiser Hyryder, the Innova Hycross, both with Hybrid EV variants, and the Hilux, the company further said.
Recently, in connection with its completing 25 years of operations in the country, Toyota Kirloskar Motor (TKM) announced a series of priority investments marking a substantial stride towards establishing India as a global hub for the manufacturing of clean and green technologies. It also announced a fresh investment of $3,300 crore to set up a new plant in the country by 2026. The new plant is expected to ramp-up production capacity by 1,00,000 units annually, and generate around 2000 numbers of additional employment.