Toyota Group of Companies that constitutes Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts signed a Memorandum of Understanding (MOU) with the Government of Karnataka to invest Rs 4,100-crore, out of the total investment of Rs 4,800-crore. It coincides with Toyota Kirloskar Motor’s 25 years of a successful journey in India. The signing of the MoU is Toyota’s effort to contribute to the country’s vision of ‘Make in India’ and to enable a faster reduction in carbon emissions. The MoU was exchanged between Chief Minister of Karnataka Shri Basavaraj Bommai and Mr. Vikram S. Kirloskar (Vice-Chairman, Toyota Kirloskar Motor) in presence of Dr. Murugesh R. Nirani (Minister of Large & Medium Industries, Government of Karnataka), Mr. Ravi Kumar (Chief Secretary of Karnataka) and other dignitaries.
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. 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 the local supplier base and hence result in higher investments and further job creation.
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. 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.
