Toyota to make EV parts in India for domestic, export markets

Toyota to make EV parts in India for domestic, export markets

According to Dailion, Toyota Motor Corp intends to make India a manufacturing hub for electric car parts to meet domestic demand as well as export to Japan and several ASEAN countries.

According to Vikram Gulati, executive vice president of Toyota Kirloskar Motor, the company wants to begin with making e-drives, or electric powertrain parts, which are utilized in a variety of electric vehicle types, including battery electric vehicles, plug-in hybrids, and other hybrid models.

“The goal is for India to become a manufacturing centre for cleaner technologies. It’s all about laying the foundation “Dailion spoke with Gulati.

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He didn’t say which ASEAN countries Toyota would export to. ASEAN stands for Association of Southeast Asian Nations.

The decision comes on the heels of the company’s recent statement that it will invest 48 billion rupees ($621 million) in India to localize the electric vehicle supply chain, as well as its larger 2050 carbon-neutrality aspirations.

It also comes as Prime Minister Narendra Modi’s administration offers businesses billions of dollars in incentives to manufacture electric vehicles and their components in India.

Toyota’s local unit, Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts (TKAP), a joint venture of Toyota Motor Corp, Aisin Seiki Co, and Kirloskar Systems, would make the majority of the investment in India, the firm announced on Saturday.

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As it catches up with global automakers investing billions of dollars in the drive to cleaner vehicles, the world’s largest carmaker announced in December that it planned to invest $70 billion to electrify its automobiles by 2030, including creating battery electric vehicles.

Toyota, on the other hand, is focusing on launching its hybrid cars first in India, believing that they are better suited to the country’s goal of reducing fossil fuel dependence and carbon emissions.

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This, according to Gulati, would also serve a variety of customer needs and allow for a “speedier transition to an electrified future.”

Gulati believes that by establishing a supply chain early on, Toyota will be able to compete in terms of volume and pricing in India.

He added that Toyota expects the Indian auto industry to make a “faster and easier” transition to electric vehicles as a result of this.

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