Toyota Kirloskar to Invest Rs 20,000 Crore in Maharashtra for EV & Hybrid Car Project – News18

A landmark Memorandum of Understanding (MoU) was signed on Wednesday between the Maharashtra government and Toyota Kirloskar for the establishment of a greenfield project in Chhatrapati Sambhajinagar. The project, aimed at manufacturing electric and hybrid cars, is expected to revolutionise the automotive industry in Maharashtra and significantly impact the entire Indian motor vehicle manufacturing sector.

The MoU was signed at the Sahyadri Guest House in the presence of chief minister Eknath Shinde, who described the project as a “revolutionary step” for the state’s motor manufacturing industry.

The Chhatrapati Sambhajinagar project will see an investment of Rs 20,000 crore, bringing significant economic benefits to the Marathwada region. This venture will create approximately 16,000 jobs, both direct and indirect, and is projected to produce around 4,00,000 cars annually. The government has allocated 850 acres of land for this project, which will be dedicated to the production of electric and hybrid vehicles.

Chief minister Shinde emphasised that the Toyota project would usher in a new era for India’s electric vehicle industry. He noted that the Maharashtra government has been actively promoting the use of electric vehicles, including their incorporation into public transport systems. The state has also introduced legal changes to facilitate the establishment of electric vehicle charging stations in housing societies.

Shinde highlighted that Maharashtra offers excellent infrastructure, skilled manpower, and ample space for large-scale projects. Additionally, the state provides abundant resources in education, healthcare, entertainment, and housing, making it an attractive location for industry workers and their families. He also mentioned that Maharashtra has been leading in foreign investments, with 80% of the $60 million agreements signed in Davos over the last two years already being implemented.

Deputy chief minister Devendra Fadnavis described the MoU as historic, stating that while Maharashtra had numerous players in the automobile sector, the absence of Toyota made it incomplete. With Toyota’s arrival, the sector is now whole. Fadnavis underscored that the Marathwada Chamber of Commerce would fully support this project, which is expected to drive both job creation and economic growth in the region. He also noted that under chief minister Shinde’s leadership, the state is progressing toward becoming a $1 trillion economy, and this agreement will play a crucial role in achieving that goal.

During the event, Masakazu Yoshimura, managing director of Toyota Kirloskar, expressed his enthusiasm for partnering with Maharashtra. He emphasised that Toyota has had a strong relationship with India for the past 25 years and looks forward to contributing to the comprehensive development of both the country and the state of Maharashtra.

The event was attended by several dignitaries, including deputy chief minister Ajit Pawar, industry minister Uday Samant, housing minister Atul Save, and senior officials from both the government and Toyota Kirloskar.