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Toyota India Revs Up for Rewards: Bags Incentive under the High-Tech Auto Scheme

Bangalore, February 23, 2024: In a significant boost to its high-tech automotive endeavors, Toyota Kirloskar Auto Parts Pvt Ltd (TKAP) announced today that it has successfully qualified for incentives under the coveted Production Linked Incentive (PLI) Scheme for Advanced Automotive Technology (AAT) products. The recognition came with the issuance of the Domestic Value Addition (DVA) Certificate for its innovative xEV Transaxle (e-Drive), marking a significant milestone for the company.

The product, a pivotal element in the electric vehicle technology sphere, not only met but surpassed the rigorous testing criteria set by the Automotive Research Association of India (ARAI) for Advanced Automotive Technology. This achievement highlights TKAP’s commitment to excellence and innovation in the rapidly evolving automotive industry.

Founded in 2002, TKAP has been at the forefront of manufacturing automotive rear axles, propeller shafts, and transmission units. With its rapid growth, TKAP has cemented its position as a key player in the Toyota group, especially in the realm of drive train parts and assemblies, including the acclaimed xEV Transaxle.

In alignment with India’s “Aatmanirbhar Bharat” initiative and Toyota Group’s vision for mass electrification, TKAP took a giant leap in 2022 by inaugurating a state-of-the-art manufacturing facility for the production of xEV Transaxle (e-Drive). This facility, which is the fourth of its kind outside Japan, boasts an impressive annual capacity of 135,000 units. It positions India as a central hub in Toyota’s Asian electrification strategy and underscores the country’s emerging role as a global manufacturing powerhouse for EV components.

K N Prasad, Managing Director of Toyota Kirloskar Auto Parts, shared his enthusiasm and gratitude: “With the Indian auto industry’s burgeoning capabilities and steadfast government support through initiatives like the PLI scheme, we’re on track to establish India as a key global hub for advanced, clean, and efficient vehicles. This will undoubtedly lead to competitive pricing in the future.”

The PLI scheme’s focus on local value addition aligns perfectly with the need for localized production of EV parts in India, ensuring not only global-scale manufacturing but also world-class quality. The comprehensive and rigorous Standard Operating Procedures (SOP) established by the Ministry of Heavy Industries and IFCI have been instrumental in guiding applicants to meet these ambitious criteria.

As a stalwart of the “Make-in-India” mission, the Toyota Group, including Toyota Kirloskar Motor, Toyota Kirloskar Auto Parts, and Toyota Industries Engine India, has invested over INR 16,000 crores until December 2023, significantly contributing to India’s industrial and technological landscape. This latest achievement by TKAP is yet another testament to the group’s commitment to innovation and excellence in the automotive sector.

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