Toyota Kirloskar Auto Parts Qualifies For PLI Scheme For Automotive Tech
Toyota Kirloskar Auto Parts (TKAP), a part of the Toyota Group India, has received the Domestic Value Addition (DVA) Certificate for its xEV Transaxle (e-Drive). The certification will allow TKAP to take advantage of the Indian government's Production Linked Incentive (PLI) Scheme earmarked for Advanced Automotive Technology (AAT) products.
The xEV Transaxle serves as a core component in all Electrified Vehicle technologies (xEVs), including strong hybrid electric vehicles, plug-in hybrids (PHEV), EVs, fuel cell electric vehicles, and more. Toyota says that its xEV Transaxle (e-Drive) has also successfully passed the stringent testing criteria laid down by Advanced Automotive Technology and earned the approval of the Automotive Research Association of India (ARAI).
The e-Drive transxale finds use in electrified powertrains ranging from strong hybrids to all-electric.
TKAP was founded in 2002 and currently manufactures a range of propulsion components such as rear axles, propeller shafts, and transmission units and xEV Transaxle assemblies.
Notably, alongside the localisation of electrified components, the company has achieved success in localizing its plant and machinery used in the production of these components to a large extent.
Commenting on the development and expressing his gratitude to the Government, K N 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.”
Moreover, the Toyota Group, including Toyota Kirloskar Motor, Toyota Kirloskar Auto Parts and Toyota Industries Engine India have invested more than Rs 16,000 crore until December 2023.
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