The Karnataka government has signed a Memorandum of Understanding (MoU) with Toyota Kirloskar Motor (TKM), the Indian subsidiary of Japan’s Toyota Motor Corporation for further expansion of its car manufacturing facility at Bidadi in Karnataka.
As per the MoU, Toyota Kirloskar Motor will make an additional investment of Rs 3,300 crore to set up its third manufacturing facility with a capacity of 1 lakh units at Bidadi, about 35 kilometres from Bengaluru potentially generating employment for up to 2,000 individuals.
The Memorandum of Understanding was signed and exchanged by Chief Minister Siddaramaiah, Government of Karnataka and Masakazu Yoshimura, MD and CEO, Toyota Kirloskar Motor in the presence of D K Shivakumar, Deputy Chief Minister of Karnataka; M B Patil, Minister for Large & Medium Industries, and Infrastructure Development, Government of Karnataka, and Geetanjali Kirloskar, Chairperson and MD, Kirloskar Systems.
Siddaramaiah, Chief Minister, Government of Karnataka said, “We take immense pride in being the home to Toyota’s manufacturing plants and express our appreciation for Toyota’s plans for further investments in the state. Their presence in Karnataka since 1997, is an example of the state consistently remaining an attractive destination.”
The company has a significant presence in Karnataka with a manufacturing plant at Bidadi which has a capacity to manufacture 310,000 vehicles per annum.
Last year, the Toyota Group of companies constituting Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts (TKAP) signed and announced their Memorandum of Understanding (MOU) with the Government of Karnataka to invest Rs 4,100 crore aimed at making deeper cuts in CO2 emissions and enhance electrification and fast pace shift towards greener technologies.
D K Shivakumar, Deputy CM, Government of Karnataka said, “The company’s move to invest further in Karnataka marks a substantial step forward in realising our vision to emerge as Asia’s forefront in future technology and advanced manufacturing. This harmonises seamlessly with the Industries and Commerce Department’s vision for balanced and sustainable growth.”
M B Patil, Minister for Large and Medium Industries, and Infrastructure Development, Government of Karnataka said, “Karnataka, as the pioneer in releasing a dedicated EV policy in 2017, updated in 2021, stands as the leader in attracting investments of Rs 25,000 crore, spanning the entire EV value chain. With approximately 2 Lakh EVs registered in the State, Karnataka is steadfast in reshaping the mobility landscape.”
Furthermore, the Karnataka government is coming up with a new clean mobility policy that aims to position the State as the leading destination for electric vehicle (EV) manufacturing, spanning the entire value chain from battery and cell manufacturing, component production, original equipment manufacturers, charging and testing infrastructure, to research and development.
“With this, the government aims to attract investments of Rs 50,000 crore across the entire EV value chain, generating approximately 100,000 new jobs, and establishing a comprehensive and supportive EV ecosystem in the State”, Patil added.
