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Toyota announces investment of Rs 4,800 crore to manufacture EV parts, green tech in India

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Toyota has announced an investment of Rs 4,800 crore in India to manufacture components. These components will also include parts for EVs. Toyota claims that this is also a step towards the vision of “Make in India”. Toyota Group of Companies which includes Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts announced a Memorandum of Understanding (MoU) with the Government of Karnataka for an investment of Rs 4,100 crore.

As part of the MoU, Toyota Group of Companies will invest towards realizing the goal of making India a manufacturing hub. Toyota claims that the investment is aimed at promoting green technologies that will help reduce reliance on fossil fuels and reduce carbon emissions.

Talking about the contribution to the EV ecosystem, Toyota claims that this investment will enable local production facilities to manufacture electric powertrain parts and components. This will help Toyota create electrified vehicle manufacturing technology in the country.

Toyota aims to completely reduce its carbon footprint to meet its environmental challenge in 2050. Toyota aims to focus on reducing carbon emissions by going beyond tailpipe emissions to address manufacturing and lifecycle CO2 emissions to achieve its carbon neutrality goals by 2050. As announced earlier.

Chief Minister of Karnataka, Basavaraj Bommai said, “Our aim is to create ‘New Karnataka for New India’ by creating new industrial townships and corridors of the 21st century. As a state which is committed to sustainable development and progress of the country We wish to make Karnataka a global supply-chain and manufacturing hub as part of our ‘Build for the World’ mission. This MoU with Toyota Group of Companies is a major progress in this regard, and Karnataka The Government is confident of Toyota’s commitment towards sustainable development and local manufacturing quality for the growth and development of Karnataka.Karnataka, being the hub of Electric Vehicles, welcomes this MoU which marks the State’s position as a leader in this field. Adds another feather to the cap.

Vikram S., Vice President, Toyota Kirloskar Motor. Kirloskar said, “Toyota is committed to accelerate the pace of electrification to strengthen domestic production with ‘Make in India’. Today’s MoU with the Government of Karnataka in the presence of Hon’ble Chief Minister Basavaraj Bommaiji and all the dignitaries is a very important milestone in terms of introducing massive investments for deep reduction in carbon emissions, high employment generation. Creating local manufacturing hubs not only for domestic needs but also for advancement in global markets, local community development and innovation. I believe such investments are needed to provide a technically viable and economically competitive alternative to fossil-fuel-intensive technologies in the vehicle mobility sector. ,

He further added, “As a part of our philosophy, we always do in-depth studies, analyzes and find many technological avenues that are best suited to achieve the national goals of reducing dependence on fossil fuels, India. Make the U.S. truly self-reliant, reducing carbon, emissions and job creation. Toyota is committed to serving our country and the community we work in.”

Green tech in India first appeared on BGR India after Toyota announced an investment of Rs 4,800 crore to manufacture EV parts.

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