Bengaluru: Earlier this week, Toyota’s Vice Chairman Shekar Viswanathan had stated that the company won’t scale up its operations in India blaming the high tax regime. At the same time, he had mentioned that Toyota will not quit India.
Later, however, Toyota released a statement on its commitment to India stating that it will be making Rs 2,000 crore investment in the country in electric and hybrid technologies.
Now, Masakazu Yoshimura, Managing Director of Toyota Kirloskar Motor, has also given a statement reaffirming the company’s commitment to India:
“Toyota Kirloskar Motor continues to be deeply committed to India and its national objectives. We have firm belief in the core strength of the country’s economic growth potential and are fully committed for continually working towards contributing to the economic development. Keeping in sync with our vision of ‘Grow India – Grow with India, during the past two decades of our presence in the country, we have worked tirelessly to invest in creation of a world-class talent pool and for building a strong competitive local supplier eco-system’ in line with the ‘Skill India” and the “Make in India” initiatives. Our operations in India are an integral part of our long-term global strategy. As part of these efforts, Toyota Group in India is targeting to invest over Rs. 2,000 crore in India in the coming years on technology and electrification, both for the domestic and the exports market. We reaffirm that TKM intends to make all efforts to promote and introduce newer, cleaner and world-class technologies and services in the market.”
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