New investment: Toyota will invest Rs 4800 crore in Karnataka, will produce electric vehicle accessories.
Vehicle manufacturer Toyota is going to invest about Rs 4800 crore in Karnataka. This investment will be made for the local production of equipment used in electric vehicles. Toyota Group firms Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts will invest Rs 4100 crore here, while Torota Industries Engine India will invest Rs 700 crore.
On Saturday, anMoU was signed on behalf of the company with the Government of Karnataka in this regard. TKM Executive Vice President VikramGulati said, Toyota Group and TIEI together will invest around Rs 4,800 crore. He said that our aim is to reduce carbon emissions rapidly. So this is being done in the spirit of Go Green, Go Local. TKM and TKAP will create around 3500 new jobs here, he said.
Provided employment to more than 8000 people
Speaking on the occasion, Vikram M Kirloskar, Vice Chairman, TKM said, “The Toyota group companies have already employed around 8000 people here. Companies have invested about Rs 12,000 crore. He said, the sales of TKM cars are increasing continuously. He told that last month Toyota sold more than 15 thousand cars in India.
