ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Toyota to spend $624m on EV production in India

Japanese subsidiary announces investment in line with government push

Toyota Kirloskar Motor signed a memorandum of understanding with the Karnataka state government regarding the new investment. (Photo courtesy of Toyota Kirloskar Motor)

MUMBAI -- Toyota Kirloskar Motor, Toyota Motor's Indian subsidiary, announced on May 7 that it will invest 48 billion rupees ($623.72 million) in decarbonization efforts in India. With the Indian government working to spread the use of electric vehicles, the company will focus on making EV parts in the southern state of Karnataka, where it already has a production facility, it said.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more