Toyota Group MoU with Govt. of Karnataka

Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts today announced a Memorandum of Understanding (MoU) with the Government of Karnataka to invest Rs.4,100 crore from a total investment outlay of Rs.4,800 crore to contribute to the country’s vision of “Make in India” and to enable a faster reduction in carbon emissions. In the presence of Dr Murugesh R. Nirani, Minister of Large & Medium Industries, Government of Karnataka, Ravi Kumar, IAS, Chief Secretary of Karnataka State, and other dignitaries, the MoU was signed by Chief Minister of Karnataka, Basavaraj Bommai and Vikram S. Kirloskar, ViceChairman, Toyota Kirloskar Motor. This investment is expected to boost local manufacturing of electric powertrain parts and components thereby catering to India’s e-mobility vision.