Toyota Kirloskar Motor has entered into an agreement with the Karnataka government on Monday to set up a hub to boost its engineering capabilities and digital innovation.
As part of the agreement, the Toyota will infuse Rs 1,200 crore as an anchor investment in the proposed TKM Bizintel Hub at KWIN CITY, according to the official announcement.
Spread across 300 acres, the proposed TKM Bizintel Hub at KWIN CITY in Bengaluru will pursue multiple strategic objectives to enhance the overall competitiveness of the entire value chain, including the testing and evaluation of mobility solutions, digital transformation across all business operations and the implementation of intelligent manufacturing initiatives, the company said.
The hub is expected to position India prominently within Toyota's global outlook in the near future by leveraging the country's robust, skilled engineering manpower and information technology ecosystem, it added.
The initial agreement (MoU) was signed in the presence of Karnataka Chief Minister Siddaramaiah, state Industries Minister MB Patil and other ministers, along with senior Toyota Kirloskar Motor (TKM) officials.
Toyota Kirloskar Motor is grateful to the Karnataka government for its continued support and collaboration over the years, which has played a key role in its journey, said Masakazu Yoshimura, Chairman, Managing Director and CEO, Toyota Kirloskar Motor.
"India has always been a strategically important market for Toyota to drive innovation and sustainable mobility initiatives. The TKM Bizintel Hub will support testing and evaluation activities, advancements in digital transformation and intelligent manufacturing across the entire supply chain business, leveraging India's robust information technology ecosystem with skilled talent," he said.
Anchored in TKM's focus on localisation and responsible growth, this initiative aligns with the company's multipathway approach towards achieving carbon neutrality goals and meeting the national priorities, such as Make in India and Atmanirbhar Bharat, Yoshimura added.
"The MoU marks another important milestone as we work together to deepen technology-led investments, create quality employment and promote sustainable industrial development.
"This partnership further strengthens Karnataka's leadership as a global investment destination and reinforces our commitment to innovation-driven growth," said Siddaramaiah.
(With inputs from PTI)
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