To be positioned between the Hyryder & Innova Hycross, the new Toyota 340D mid-sized SUV is expected to be launched in financial year 2025-26. Toyota plans to introduce its 3rd manufacturing plant to expand production in India.
Japanese automaker, Toyota is reportedly developing a new mid-sized SUV, codenamed 340D for the Indian market. Moreover, the company is planning to build a third car plant to expand production capacity in the country. The move comes after the brand’s successful partnership with Suzuki Motor, which helps in improving Toyota’s domestic volumes.
The report claims that Toyota’s third plant will have an initial production capacity of 80,000-120,000 vehicles per year, which could be increased to around 2 lakh in future. The company’s existing manufacturing capacity in India is 4 lakh units a year.
Adding to it, Toyota has started working on a new sport utility vehicle (SUV) for the Indian market. Likely to be launched in early 2026, the new SUV could be the produced at the brand’s new factory. Codenamed 340D, the new C-segment SUV will be positioned between the Urban Cruiser Hyryder and the bigger Innova Hycross MPV. Toyota is working with suppliers to produce 60,000 units a year of the new SUV.
Previous report claims that the Toyota’s upcoming C-SUV, codenamed Toyota 340D will be based on the new TNGA platform that underpins the Innova Hycross and the global Corolla Cross. It is most likely to be the long wheelbase version of the Corolla Cross with both 5 and 7-seat options on offer. The SUV could use the 2.0L strong hybrid powertrain that powers the new Hycross.
Toyota’s sales in India have increased due to its strategic partnership with Suzuki. The brand’s Glanza hatchback and Urban Cruiser, based on Baleno & Grand Vitara, respectively accounts for 40% of the total sales in India. Maruti Suzuki is currently using Toyota’s two-thirds of production capacity to build vehicles for both car makers.
Toyota is aiming to have a production capacity of 5 lakh vehicles per year before the end of the decade. The report also suggests that Toyota could also introduce a ‘mini’ Land Cruiser in India. This model will be introduced as a CKD.
Source – Reuters
