Toyota Group Invest Rs. 4,800 Crore Ahead Of Hybrid Compact SUV Launch | V3Cars
Ahead of the launch of their hybrid compact SUV, Toyota have invested Rs. 4,800 crore towards local production of powertrain parts and other components of electric vehicles.
The Toyota Group, which consists of Toyota Kirloskar Motor (TKM) and Toyota Kirloskar Auto Parts (TKAP), have also signed an MoU with the Karnataka government to invest Rs. 4,100 crore out of the Rs. 4,800 crore in the state.
With the fresh injection of investments, Toyota aim to cut down on carbon emissions and make a shift to greener mobility. The new investments will also promote local production and supply chain, thus creating more job opportunities. Toyota will produce electric powertrain components and other related parts locally, and these are likely to feature in the upcoming Toyota and Suzuki hybrid compact SUVs.
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Toyota India are likely to launch their hybrid compact SUV, codenamed D22, around Diwali this year. We expect the D22 compact SUV to feature a strong hybrid setup similar to that of the Toyota Camry. However, we expect it to have a smaller powertrain than the Camry to keep costs in check. The same powertrain and equipment are likely to be offered on Maruti Suzuki’s hybrid SUV as well.
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On the signing of the MoU, Mr. Vikram S. Kirloskar, Vice Chairman, Toyota Kirloskar Motor, said, “As a part of our philosophy, we always conduct deeper studies, analyse and explore multiple technological pathways that are best suited to optimally achieve the national goals on lowering dependence on fossil fuels, make India truly self-reliant, reducing carbon emissions and creating jobs. Toyota remains committed to serve our nation and the community where we operate.”
Also Read: Maruti And Toyota Compact Hybrid SUVs Spied - Launch Likely This Year
ABOUT THE AUTHOR
Amit Saraswat
Born and brought up in Agra, he grew up reading magazines more than textbooks. With a keen interest in cars, he decided to make his future in automotive journalism and is currently helping in content at V3Cars.
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