In a significant stride towards advancing automotive technology in India, Toyota Kirloskar Auto Parts (TKAP) has achieved a milestone by obtaining the Domestic Value Addition (DVA) Certificate for its xEV Transaxle (e-Drive).
This accomplishment paves the way for TKAP to benefit from the Production Linked Incentive (PLI) Scheme initiated by the Indian government, specifically tailored for Advanced Automotive Technology (AAT) products.
xEV Transaxle
The xEV Transaxle, considered a cornerstone in all Electrified Vehicle technologies (xEVs), encompasses a wide spectrum of vehicles including strong hybrid electric vehicles, plug-in hybrids (PHEV), EVs, and fuel cell electric vehicles.
Toyota underscores the resilience and quality of its xEV Transaxle (e-Drive) by highlighting its successful navigation through the rigorous testing procedures mandated by Advanced Automotive Technology. Furthermore, receiving approval from the Automotive Research Association of India (ARAI) underscores its credibility and adherence to industry standards.
TKAP’s Journey
Established in 2002, TKAP has been instrumental in manufacturing various propulsion components like rear axles, propeller shafts, transmission units, and xEV Transaxle assemblies.
Noteworthy is the company’s commitment to localizing its operations, not limited to electrified components but also extending to plant and machinery utilized in their production. This localization effort signifies TKAP’s dedication to enhancing India’s manufacturing landscape while ensuring operational efficiency.
Acknowledging
K N Prasad, the Managing Director of Toyota Kirloskar Auto Parts, expressed gratitude towards the Government for its steadfast support, particularly through schemes like PLI. He emphasized the pivotal role such initiatives play in bolstering India’s auto industry and propelling it towards global competitiveness.
Prasad’s remarks reflect TKAP’s confidence in India’s potential as a key manufacturing hub for advanced, eco-friendly vehicles, poised to deliver competitive pricing in the future.
Automotive Excellence
Underlining its commitment to India’s automotive sector, the Toyota Group, encompassing Toyota Kirloskar Motor, Toyota Kirloskar Auto Parts, and Toyota Industries Engine India, has made substantial investments exceeding Rs 16,000 crore until December 2023. This investment underscores the group’s long-term vision and dedication to fostering innovation and growth within India’s automotive ecosystem.
Decision
Toyota Kirloskar Auto Parts’ qualification for the PLI Scheme marks a significant milestone in India’s automotive journey. With a focus on advanced automotive technology and localization efforts, TKAP is poised to contribute significantly to India’s automotive landscape, driving innovation, sustainability, and competitiveness.
