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Toyota controversy: Investing over Rs 2,000 cr on electrification of models, Kirloskar clarifies

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Toyota controversy: Investing over Rs 2,000 cr on electrification of models, Kirloskar clarifies

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A news article quoting a top executive of Toyota Kirloskar, a subsidiary of Japanese car maker Toyota, saying Indian expansion plans were halted due to 'we don't want you here' taxes has caused quite a flurry. The Vice-Chairman of the company and the Indian partner of Toyota, Vikram Kirloskar, however, clarifies that while the company is not investing in increasing their capacity, they do intend to invest in their existing plants. Kirloskar claims a decision has been taken to invest over Rs 2000 crore this year in upgrading technology.

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