Toyota Motor Corporation is planning to make India its production centre for EV (electric vehicle) parts for both domestic and export markets. The company will export EV components to Japan and some ASEAN (Association of Southeast Asian Nations) countries. It will kick start with the production of e-drives or electric powertrain parts, which are used in battery EVs, plug-in hybrid and other hybrid vehicles.
Recently, the Japanese automaker announced an investment of $621 million (48 billion rupees) for the Indian market. The fund, which is a part of the brand’s broader 2050 carbon-neutrality goals, will be used to localize the supply chain for electric cars. The investment will be made by the company’s Indian arm – Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts. Just so you know, the Indian government recently announced incentives of billion of dollars to manufacture EVs and their components locally.
In India, Toyota will introduce the stronger hybrid vehicles before entering into the EV space. If reports are to be believed, the Japanese automaker is working on a new C-segment MPV and a SUV that will arrive in coming years. Both models are likely to be offered with the petrol engine boosted with the stronger hybrid technology. Toyota’s first pure electric car will be an SUV that’s reported to hit roads sometime in 2025.
In other updates, Toyota is testing the new-generation Fortuner and Innova Crysta. The models will receive comprehensive changes inside and out along with a petrol hybrid powertrain. The company’s upcoming mid-size SUV, which will be co-developed with Maruti Suzuki, will also come with the hybrid technology. Codenamed Toyota D22, the model will challenge the dominance of the Hyundai Creta and Kia Seltos in the compact SUV segment. Toyota’s Bidadi plant will serve as production hub for the new SUV. It’s reported to launch before 2022 Diwali season.