NewswireToday - /newswire/ -
Karnataka, Bangalore, India, 2010/03/02 - Toyota Kirloskar Motor Pvt. Ltd (TKM) has signed a Memorandum of Understanding (MoU) with the State Bank of Hyderabad (SBH) to extend auto retail finance to their prospective customers.
The State Bank of Hyderabad will be one of the preferred financiers for the entire range of vehicles sold by Toyota Kirloskar Motor Private Limited (TKM).
The agreement was signed by Mr. Sailesh Shetty, General Manager, Sales, Toyota Kirloskar Motor Private Limited (TKM), and Mr. A.M.R Sharieff Deputy General Manager, State Bank of Hyderabad.
The MOU aims at targeting customers who will be availing car loans from SBH under the SBH – TKM Car Finance Schemes. SBH has come out with special schemes namely SBH Ezee Car Loans and SBH Advantage Car Loans for these customers. These schemes will be implemented in all branches of SBH across the country. SBH, a reputed public sector bank with over 1100 branches, is growing rapidly since its inception. Both SBH and Toyota dealers will promote these schemes to provide various finance options to its customers through all branches of SBH.
About Toyota Kirloskar Motor
TKM (toyotabharat.com) is a joint venture between Toyota Motor Corporation and the Kirloskar Group. TKM has invested nearly Rs. 1,500 crores in its plant at Bidadi, employing around 3000 people. The plant started production in December 1999 and has a capacity of producing 80,000 units annually.
For further information, please contact:
Toyota Kirloskar Motor Private Limited
Outskirts of Bangalore, Karnataka State
Establishment October 1997 (start of production: December 1999)
Hiroshi Nakagawa, Managing Director
Equity participation – TMC: 89%, Kirloskar Group: 11%
Land area – Approx. 432 acres (approx. 1.744,848 m2)
Annual production capacity – Approx. 80,000 units
Products – Corolla Altis, Innova, Fortuner manufactured in India. Camry, Prado, Land Cruiser imported as CBUs.
2008 production results 54,327 units
Number of employees – Approx. 3300 (as of November 2009)