NEW DELHI: Toyota Motor Corp plans to make India a manufacturing hub for electric vehicle parts to meet demand there as well as for export to Japan and some ASEAN countries, a senior company executive told Reuters.
The carmaker plans to start by producing e-drives or electric powertrain parts used by different electric vehicle types, including battery EVs, plug-in hybrids and other hybrid models, Vikram Gulati, executive vice president at Toyota Kirloskar Motor said.
He did not name the countries in ASEAN, or the Association of Southeast Asian Nations, that Toyota would export to.
The move follows the company’s recent announcement that it will invest 48 billion rupees ($621 million) in India to localise the supply chain for EVs, and is also part of its broader 2050 carbon-neutrality goals.
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