In its effort to contribute to the country’s vision of ‘Make in India’ and to enable a faster reduction in carbon emissions, out of the total investment of Rs 4,800-crore, the Toyota Group of Companies that constitutes of Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts announced their Memorandum of Understanding (MOU) with the Government of Karnataka to invest Rs 4,100-crore. This announcement coincides with Toyota Kirloskar Motor’s 25 years of a successful journey 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.
The MoU was exchanged between Chief Minister of Karnataka Shri Basavaraj Bommai and Mr. Vikram S. Kirloskar, Vice-Chairman, Toyota Kirloskar Motor, in the presence of Dr. Murugesh R. Nirani, Minister of Large & Medium Industries, Government of Karnataka, Mr. Ravi Kumar, Chief Secretary of Karnataka, and other dignitaries present on the occasion of MoU signing ceremony.
According to the MoU, Toyota Group of Companies will systematically invest towards making India a self-reliant manufacturing hub, thus contributing towards the Government’s ‘Make in India’ and ‘Atma Nirbhar Bharat’ mission. The investments are aimed at promoting greener technologies that will help lower dependence on fossil fuels and mitigate carbon emissions. As a part of the Toyota Environmental Challenge 2050, Toyota will continue to focus on reducing carbon emissions in a holistic manner to realise its carbon neutrality goals by 2050.
Since its inception, Toyota has been committed to build a stable, sustainable, and competitive local supply chain and has taken significant efforts in promoting localization of auto parts and components in line with Government’s ‘Make in India’ mission.
