Toyota Kirloskar Auto Parts Avail PLI Scheme Incentives
Feb 23, 2024 21:02
Toyota Kirloskar Auto Parts is now eligible for PLI scheme incentives for advanced automotive technology products, including xEV Transaxle (e-Drive).
Illustration: Dominic Xavier/Rediff.com
New Delhi, Feb 23 (PTI) Toyota Kirloskar Auto Parts on Friday said it is now eligible to avail incentives under the production-linked incentive scheme for advanced automotive technology (AAT) products.
The company, a part of Toyota Group of companies, has received the domestic value addition (DVA) certificate for the xEV Transaxle (e-Drive) under the PLI scheme for AAT products, Toyota Kirloskar Auto Parts (TKAP) said in a statement.
This development renders TKAP eligible to avail incentives under the PLI scheme, it added.
The product has also met the testing criteria of AAT, and is certified by the Automotive Research Association of India (ARAI), the company stated.
Established in 2002, TKAP is engaged in the manufacture and sale of automotive rear axles, propeller shafts, and transmission units.
In 2022, TKAP 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.
The new facility has an annual installed capacity of 1,35,000 units.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.