- An MoU has been signed between Toyota Kirloskar Motors and Toyota Kirloskar auto parts to invest 4100 crore Indian rupees and the rest 700 crores will be invested by Toyota Industries Engine India.
- The plant would be set up in Karnataka and is bound to give Phillip to the electric vehicle industry. It is a part of the Go Green, Go Local initiative.
- The Government of India has approved the FAME 2.0 which has an outlay of 10,000 crore rupees. Therefore this investment would help in faster adoption of electric vehicle technology. It would also make the price of the electric Vehicle parts competitive, making the industry more lucrative for buyers.
Question:
Q.1 Which company would invest 4800 crores for electric Vehicle parts manufacturing in India?a. Toyota
b. Tata Automobiles
c. Suzuki
d. Tesla
