Toyota likely to set ancillary manufacturing unit
Japanese multinational automotive manufacturer Toyota is planning to set up an ancillary manufacturing unit in India. The firm intends to extend its supply chain to India as a stand-alone venture.
The group has planned to invest Rs 4,800 crore to make electric vehicle (EV) components in India, seeking to achieve carbon neutrality by 2050. Recently Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts signed a memorandum of understanding (MoU) with Karnataka to invest Rs 4,100 crore.
Also Read: Toyota To Invest Rs 4,800 Crore In Karnataka