Toyota Kirloskar Auto Parts now eligible to avail incentives under PLI | Company News – Business Standard

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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 EV 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 EV 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.

First Published: Feb 23 2024 | 9:19 PM IST