India approves manufacture of new Toyota vehicle

Tuesday, 30 September 2003, 07:00 Hrs
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NEW DELHI: India Monday approved a proposal by Toyota Kirloskar Motor Private Ltd. for collaborating with Japan's Toyota Motor Corporation for manufacturing a new multi-purpose vehicle here.

Toyota Kirloskar's plan was among 15 cases of technical collaboration approved by Commerce and Industry Minister Arun Jaitley, according to an official statement.

These cases of foreign technology collaboration/franchise agreements had earlier this month received clearance of the Project Approval Board (PAB). Jaitley also approved seven cases of industrial licence.

Through the technical collaboration Toyota Kirloskar Motors, the Indian joint venture of the global auto major is planning to manufacture and add a multi-purpose vehicle to its existing product line-up in the country.

Through another agreement, Toyota Motors will now provide technical know-how to Toyota Kirloskar Auto Parts Private Limited for the engine assembly for the new multi-purpose vehicle to be launched by Bangalore-based Toyota Kirloskar Motor.

Another proposal for technical collaboration that has been approved is for manufacture of LPG/CNG (green-fuel) powered three-wheeled vehicle by Piaggio Vehicles Pvt. Ltd. in collaboration with Italy's Piaggio & C. SPA.

"The new vehicle will be Bharat-II (comparable with Euro-II environment norms) compliant and meet standards of environmental pollution," the official statement said.

The seven proposals for grant of industrial licences or amendments in existing ones related to areas like defence, biotechnology, chemicals and textiles.

Source: IANS
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