Bengaluru, May 23rd , 2022: In its continued efforts towards striving for the betterment of its employees, the society, and the company at large, Toyota Kirloskar Motor (TKM) recently signed a Memorandum of Settlement (MoS) to promote a positive work environment based on the philosophy of mutual trust and respect for all.
The new Settlement that caters to the Charter of Demand for the period of two financial years 2020-2022 was signed in the presence of the Additional Labour Commissioner Dr. Manjunath G, Government of Karnataka, along with Senior Management of TKM and Union Office Bearers of TKM-EU.
Talking about the MoS, a senior official from TKM said, “At Toyota Kirloskar Motor, we hold the highest commitment to employee development and creating an engaging workplace based on the principal of “Mutual Trust & Respect”. Employees are our partners; therefore, our efforts are towards developing a workplace that facilitates positive thinking and growth opportunities for every single employee while building a stronger company.”
As part of the settlement, it was agreed to jointly put efforts to sustain the company growth and maintain wage and benefit levels, employees would ensure maximum flexibility and productivity to ensure the competitiveness of products, services, and the future. On this occasion, the Management and the Union reaffirmed their commitment to work together for the benefit of all employees, company, and the nation.
Overview of TKM
| Company name | Toyota Kirloskar Motor Private Limited |
| Equity participation | TMC: 89%, Kirloskar Systems Limited (Mr. Vikram S. Kirloskar): 11% |
| Number of employees | Approx. 6,000 |
| Land area | Approx. 432 acres (approx.1,700,000 m2) |
| Building area | 74,000 m2 |
| Total Installed Production capacity | Up to 3,10,000 units |
Overview of TKM 1st Plant:
| Established | October 1997 (start of production: December 1999) |
| Location | Bidadi |
| Products | Innova, Fortuner manufactured in India. Vellfire imported as CBU |
| Installed Production capacity | Up to 1,00,000 units |
Overview of TKM 2nd Plant:
| Start of Production | December 2010 |
| Location | On the site of Toyota Kirloskar Motor Private Limited, Bidadi |
| Products | Toyota Camry Hybrid |
| Installed Production capacity | Up to 2,10,000 units |
