Tuesday
May 10
2022

Toyota to Invest $624 Million to Make Electric Vehicle Parts in India

Toyota Group plans to invest 48 billion rupees ($624 million) to make electric vehicle components in India, as the Japanese carmaker works toward carbon neutrality by 2050.

Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts signed a memorandum of understanding with the southern state of Karnataka to invest 41 billion rupees, the group said in a statement Saturday. The rest will come from Toyota Industries Engine India.

Photo courtesy of Daniel.

Source: Bloomberg (link opens in a new window)

Categories
Technology
Tags
climate, electric vehicles, environment, impact investing, manufacturing