Toyota To Invest Rs 4,800 Crore In Karnataka
Japanese business group Toyota has signed an MoU to invest Rs 4,800 crore in Karnataka for the local production of powertrain parts, and components of electric vehicles, and also to boost innovation around electrification and greener technologies.
Toyota Kirloskar Motor (TKM) along with Toyota Kirloskar Auto Parts (TKAP) will put in Rs 4,100 crore, while a related company, Toyota Industries Engine India (TIEI), will pitch in with another Rs 700 crore. As per the statement, the investments are aimed at promoting greener technologies that will help Toyota lower its dependence on fossil fuels and mitigate carbon emissions.
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