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Toyota-Kirloskar joint venture exceeds production target
Geeta Nair
Pune, Sept 26: All is well with the Toyota Kirloskar joint venture (JV), says Atul C Kirloskar. Setting aside speculations about Kirloskar's role in the JV, he says, "We value our partnership with Toyota and the venture is working well with the company's first offering, the Qualis' performance exceeding expectations". Mr Kirloskar said that the JV had planned to roll out 20,000 vehicles this year but the figure at the end of the year was expected to exceed this mark. "Till June this year, Toyota was rolling out 43 vehicles a day and the plan was to produce 86 vehicles from July. We have exceeded this target and are doing 109 vehicles per day now."Mr Kirloskar is looking at an annual volume of 35,000 to 40,000 units to benefit his auto component venture, Kirloskar Systems. The Kirloskar group together holds a 51 per cent stake in Kirloskar Systems, which is manufacturing auto components for the Qualis. At present, Kirloskar Systems is doing a business of Rs 6 crore per month. "It was thought that Kirloskar Systems would make losses in the first year but with the vehicle performing well, losses were not anticipated," Mr Kirloskar said. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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