Toyota announces big investments for Karnataka 

Toyota Group of Companies shared their Memorandum of Understanding (MOU) with the Government of Karnataka to invest INR 4,100 crores.

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 Basavaraj Bommai and. Vikram S. Kirloskar, Vice-Chairman, Toyota Kirloskar Motor, 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 among other dignitaries present at this momentous occasion of MoU Signing Ceremony.

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, thereby cater to the electrified vehicle manufacturing in India. As a part of the Toyota Environmental Challenge 2050, Toyota will continue to focus on reducing carbon emissions in a holistic manner going beyond tailpipe emissions to address manufacturing and lifecycle CO2 emissions in order to realise its carbon neutrality goals by 2050, as announced earlier.

These companies have so far invested Rs. 11,812 crores and employ more than 8,000 people. Over the years, the group has consciously adopted sustainable business practices and transforming from a carmaker to a mobility company.