Toyota group firms will invest about Rs 4,800 crore in Karnataka
It will be for local production of powertrain parts and other components of electric vehicles
Toyota Kirloskar Motor (TKM) along with Toyota Kirloskar Auto Parts (TKAP) will put in Rs 4,100 crore
While Toyota Industries Engine India (TIEI)– will pitch in with another Rs 700 crore
TKM and TKAP inked a Memorandum of Understanding (MOU) with the Karnataka government in this regard
The MoU was exchanged between Chief Minister of Karnataka Basavaraj Bommai and Vikram S. Kirloskar, Vice-Chairman, Toyota Kirloskar Motor
“Just from the group companies (TKM & TKAP), from a direct employment point of view, we are looking at around 3,500 new jobs.” executive vice president Vikram Gulati said
