Toyota India deputy MD quits to join Volkswagen

Swami has been with TKM since October 1997. The company has not made this development public yet but a company spokesperson confirmed Swamy's exit and said that he had decided to move on seeking "brighter prospects". Swamy, who is believed to be on vacation, could not be reached for comments.

Interestingly TKM's website, www.toyotabharat.com, continues to show Swamy as part of the senior management team, sharing a portrait with two other deputy managing directors M Kawabata and S Tomonaga, and managing director H Nakagawa.

Swamy's sudden departure comes at a time when the Japanese car maker is readying to enter the small car segment with an investment of Rs 1,400 crore adding fresh capacity of 100,000 units a year.

The new plant will come up in Bidadi (near Bangalore), the same location as its present plant, with a capacity to produce 60,000 cars a year.

Swamy, a chartered accountant by training, joined TKM from Pune-based Kirloskar Group, which is a minority partner (11 per cent) in the joint venture with Toyota Motor Corporation.

Volkswagen is currently building a new plant in Chakan near Pune with an investment of some