NEW DELHI, India : A company executive told Reuters that Toyota is planning to make India a manufacturing hub for electric vehicle parts to meet local Japanese demand and exports to Japan and other Association of Southeast Asian Nations ASEAN member countries.
Vikram Gulati, executive vice president at Toyota Kirloskar Motor, said the company plans to make e-drives or electric powertrain parts used by different electric vehicle types, including battery EVs, plug-in hybrids, and other hybrid models.
The ultimate goal is to make India a manufacturing hub for cleaner technologies. He told Reuters that this is about building the building blocks.
Prime Minister Narendra Modi's government wants to give companies billions of dollars in incentives to build EVs and their parts in India, as well as achieve its 2050 carbon-neutrality goals, and localize the supply chain for EVs, as well as to achieve its 2050 carbon-neutrality goals, the company has recently announced that it will invest $621 million in India.
Toyota said most of its investment will be made in India by Toyota's local unit, Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts, a joint venture of Toyota Motor Corp, Aisin Seiki Co and Kirloskar Systems.
Toyota is more focused on launching its hybrid models first in India, which is more suited to the country's aim of reducing dependence on fossil fuels and carbon emissions, according to the company.