Toyota Group signs MoU with K'taka for Rs 4,800 crore investment

Bengaluru, May 8 (IANS): The Toyota Group of Companies, comprising Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts, on Saturday announced a Memorandum of Understanding (MOU) signed with the Karnataka government to invest Rs 4,100 crore of a total Rs 4,800 crore towards 'Make in India' and to enable a faster reduction in carbon emissions.

The announcement coincides with Toyota Kirloskar Motor's 25 years of journey in India.

The MoU was exchanged between Chief Minister Basavaraj Bommai and Vikram S. Kirloskar, Vice-Chairman, Toyota Kirloskar Motor.

Speaking on the occasion, Bommai said, "As a state committed to sustainable development and contributing to the nation's progress, we want to make Karnataka a global supply-chain and manufacturing hub under our 'Build for the World' mission. This MoU with Toyota Group of Companies is a huge stride in this regard, and the Karnataka government is confident of Toyota's commitment towards sustainable growth and local manufacturing quality for Karnataka's development."

The investments are aimed at promoting greener technologies that will help lower dependence on fossil fuels and mitigate carbon emissions. This investment will also enable local production facilities to build electric powertrain parts and components, and cater to the electrified vehicle manufacturing in India.

Vikram S. Kirloskar, Vice-Chairman, Toyota Kirloskar Motor, said, "Toyota is committed to enhance the pace of electrification strengthen domestic production with 'Make in India'."

In-addition to boosting the local manufacturing eco-system, the new development will provide an impetus to employment generation and local community development.



Top Stories

Leave a Comment

Title: Toyota Group signs MoU with K'taka for Rs 4,800 crore investment

You have 2000 characters left.


Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will be held responsible.