Toyota will manufacture electric vehicle components in India; Invests Rs. 4,800 crore


develop See the pictures

The Toyota Group signs a memorandum of understanding with the government of Karnataka for large investments.

Toyota Group of Companies, which includes Toyota Kirloskar Motor (TKM), Toyota Kirloskar Auto Parts (TKAP) and Toyota Industries Engines India Private Limited (TIEI), has announced its Memorandum of Understanding with the Government of Karnataka to invest ₹4,800 crores . On this TKM and TKAP constitute an investment of ₹4100 crore. This announcement coincides with the celebration of 25 years of Toyota Kirloskar Motor in India.

Also Read: Toyota Unveils Innova EV Concept in Indonesia

In addition to boosting the local manufacturing ecosystem, the new development will provide a boost to job creation and local community development. This investment will also stimulate the growth of the local supplier base and therefore lead to higher investments and new job creation.

The MoU was exchanged between Karnataka Chief Minister Basavaraj Bommai and Vikram Kirloskar, Vice Chairman of Toyota Kirloskar Motor. Under the MoU, the Toyota group of companies will systematically invest to make India a manufacturing hub, contributing to the government’s Make in India mission.

ribhpjm8

Toyota is also working on launching its first fuel cell electric vehicle (FCEV) in India, the Toyota Mirai.

Also Read: April 2022 Auto Sales: Toyota Reports 57% Year-on-Year Sales Growth

The investments aim to promote greener technologies that will help reduce dependence on fossil fuels and mitigate carbon emissions. This investment will also enable local production facilities to build electric powertrain parts and components, thereby catering to the manufacturing of electrified vehicles in India. As part of the Toyota Environmental Challenge 2050, Toyota will continue to focus on reducing carbon emissions holistically, going beyond tailpipe emissions to address manufacturing and lifecycle CO2 emissions to achieve its carbon neutrality targets by 2050, as previously announced.

t4jvuoo8

The investment will also enable local production facilities to manufacture electric powertrain parts and components.

The group has invested in strengthening and growing the supplier base by constantly partnering with them to improve their capabilities and capabilities by sharing Toyota best practices, efficient processes and workforce skills work, delivering a world-class training program to enhance production excellence with high quality standards. .

Also Read : Toyota Registers Innova Hycross Brand in India; Spot testing globally

Vikram Kirloskar, Vice President of Toyota Kirloskar Motor, said: “As part of our philosophy, we are always conducting further studies, analyzing and exploring the multiple technology pathways best suited to optimally achieve national reduction targets. from reliance on fossil fuels, making India truly self-sufficient, reducing carbon emissions and creating jobs. Toyota remains committed to serving our nation and the community where we operate.

Also Read: Toyota India Cumulative Sales Cross 20 Lakh Unit Milestone

0 comments

These companies have so far invested ₹11,812 crore and employ over 8,000 people. Over the years, the group has consciously adopted sustainable business practices and evolved from a car manufacturer to a mobility company.

For the latest car news and reviews, follow carandbike.com on TwitterFacebook and subscribe to our YouTube channel.

About the author