In line with Toyota’s effort to contribute to India’s vision of ‘Make in India’ and to enable a faster reduction in carbon emissions, out of total investment of Rs 4,800-crore, Toyota Group of Companies (that constitutes of Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts) entered into a Memorandum of Understanding (MOU) with the Government of Karnataka to invest Rs 4,100-crore. In addition to boosting the local manufacturing eco-system, the new development will provide an impetus to employment generation and local community development. This investment will also spur the growth of local supplier base and hence result in higher investments and further job creation.
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. This initiative coincides with Toyota Kirloskar Motor’s 25 years of a successful journey in India.
Since its inception, Toyota has been committed to build a stable, sustainable, and competitive local supply chain and has taken significant efforts in promoting the localization of auto parts and components in line with the Government’s ‘Make in India’ mission. Under the MoU, Toyota Group of Companies will systematically invest towards making India a self-reliant manufacturing hub, thus contributing to 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.
