NEW DELHI: Toyota Kirloskar Motor (TKM) on November 21 announced plans to invest Rs 3,300 crore to set up its third plant at Bidadi in Karnataka.

The new unit, to commence production by 2026, will have an annual capacity of 1 lakh units in two shifts. It will come up at the company’s existing facility at Bidadi, near here where it currently has two units with a combined installed production capacity of up to 3.42 lakh units annually.

Besides producing multi-utility vehicle Innova HyCross, it will be “future ready” to roll out models spanning across fuel technologies, TKM exec VP-country head Vikram Gulati said.