Magazine : 
Karnataka govt signs MoU with Toyota Kirloskar Motor for investment of 
3,300 crore
The Karnataka government and Toyota Kirloskar Motor (TKM), an Indian subsidiary of Japan's Toyota Motor Corporation, have entered into a memorandum of understanding (MoU) to enhance and expand the car manufacturing facility located in Bidadi, Karnataka.
According to the MoU, TKM has committed to investing an additional amount of 
3,300 crore to establish its third manufacturing unit with a capacity of 1 lakh units at Bidadi, located about 35 km away from Bengaluru. This investment has the potential to create employment opportunities for up to 2,000 individuals.
3,300 crore to establish its third manufacturing unit with a capacity of 1 lakh units at Bidadi, located about 35 km away from Bengaluru. This investment has the potential to create employment opportunities for up to 2,000 individuals.
The MoU with the Karnataka government was signed and exchanged by Chief Minister Siddaramaiah and Masakazu Yoshimura, Managing Director and Chief Executive Officer, Toyota Kirloskar Motor in the presence of Deputy Chief Minister D.K. Shivakumar, among others.
"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", said CM Siddaramaiah. Toyota Kirloskar Motor has a large presence in Karnataka with a car manufacturing plant at Bidadi which has a capacity to manufacture 3,10,000 vehicles per annum.
Last year, Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts (TKAP), which are part of the Toyota Group of companies, signed an MoU with the government of Karnataka to invest 4,100 crore. The investment aims to reduce CO2 emissions, promote electrification, and accelerate the shift towards greener technologies. The Karnataka government is supportive of the establishment of industries in the state across various sectors and is committed to providing necessary assistance to make the journey of investors more comfortable, said MB Patil.
4,100 crore. The investment aims to reduce CO2 emissions, promote electrification, and accelerate the shift towards greener technologies. The Karnataka government is supportive of the establishment of industries in the state across various sectors and is committed to providing necessary assistance to make the journey of investors more comfortable, said MB Patil.Read More News :
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