Toyota invests in EV parts manufacturing in India
Toyota Motor Indian subsidiaries plan to spend a combined INR48n (US$624m) making components for electric and hybrid vehicles (EV) in the country as part of efforts to achieve carbon neutrality by 2050.
Majority owned Indian vehicle making joint venture, Toyota Kirloskar Motor, and its local transmission components joint venture Toyota Kirloskar Auto Parts, announced jointly they had signed a memorandum of understanding (MoU) to spend…