Toyota Kirloskar Auto Parts qualifies for incentive under PLI scheme

Autocar Pro News Desk By Autocar Pro News Desk calendar 23 Feb 2024 Views icon4043 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Toyota Kirloskar Auto Parts qualifies for incentive under PLI scheme

Toyota Kirloskar Auto Parts Pvt Ltd (TKAP), a part of Toyota Group of companies, today announced that it has received the Domestic Value Addition (DVA) Certificate for xEV Transaxle (e-Drive) under the Production Linked Incentive (PLI) Scheme for Advanced Automotive Technology (AAT) products. This development renders TKAP eligible to avail incentives under the Scheme.

TKAP’s product has also met the Testing criteria of Advanced Automotive Technology, and it is certified by the Automotive Research Association of India (ARAI).

Aligned with “Aatmanirbhar Bharat” and in resonance with Toyota Group’s commitment towards “mass electrification”, TKAP in 2022 set up an advanced manufacturing facility to produce xEV Transaxle (e-Drive) for domestic supply to Toyota Kirloskar Motor and export to Japan and other Asian countries, in a step towards making India Toyota Asia’s Electrification Hub. The new facility, fourth outside Japan, has an annual installed capacity of 135,000 units making it the best-case point of India’s emergence as a global manufacturing hub for EV parts. The product is a core component in all Electrified Vehicle technologies (xEVs) including Strong Hybrid Electric Vehicle (SHEV), Plus-in Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Flex Fuel Strong Hybrid Electric Vehicle (FFV-SHEV).
 
Furthermore, apart from the localisation of the electrified parts/components, TKAP has also been successful in localising its plant and machineries that are being used to produce these local parts/components to a large extent.

KN Prasad, Managing Director, Toyota Kirloskar Auto Parts, said “Given the renewed capability of Indian auto industry and the strong continued Government support through schemes such as PLI, we have made visible progress in establishing India as a critical manufacturing hub of advance, clean and efficient vehicles aimed at attending competitive pricing in the future.”

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