In a significant development, Toyota Kirloskar Auto Parts (TKAP) announced on Friday its eligibility to avail incentives under the production-linked incentive (PLI) scheme for advanced automotive technology (AAT) products. This milestone marks a pivotal moment for TKAP, a key player within the Toyota Group of companies, as it positions itself to capitalize on incentives aimed at fostering innovation and technological advancement in the automotive sector.
According to a statement released by TKAP, the company has been awarded the domestic value addition (DVA) certificate for its xEV Transaxle (e-Drive) – a critical component in electric and hybrid vehicles. This certification, obtained under the PLI scheme for AAT products, signifies TKAP’s fulfillment of stringent criteria set forth by regulatory bodies.
The attainment of the DVA certificate not only underscores TKAP’s commitment to excellence in manufacturing but also paves the way for the company to access incentives outlined in the PLI scheme. This strategic move aligns with TKAP’s overarching objectives of driving innovation, enhancing competitiveness, and contributing to the growth of India’s automotive industry.
Highlighting the significance of this achievement, TKAP emphasized that its xEV Transaxle (e-Drive) has successfully met the rigorous testing standards mandated for AAT products. The certification, conferred by the Automotive Research Association of India (ARAI), attests to the product’s quality, reliability, and compliance with industry benchmarks.
Established in 2002, TKAP has been at the forefront of automotive manufacturing, specializing in the production and sale of rear axles, propeller shafts, and transmission units. In a testament to its forward-looking approach, TKAP inaugurated an advanced manufacturing facility in 2022 dedicated to the production of xEV Transaxle (e-Drive) systems. These cutting-edge components are slated for domestic distribution to Toyota Kirloskar Motor and export to markets in Japan and other Asian countries.
With an annual installed capacity of 1,35,000 units, the state-of-the-art facility underscores TKAP’s commitment to leveraging advanced technologies and processes to meet evolving market demands. The company’s foray into electric and hybrid vehicle components reflects its strategic vision to stay ahead of the curve in an era of rapid technological transformation within the automotive landscape.
As TKAP charts its course towards a future driven by innovation and sustainability, its eligibility for incentives under the PLI scheme serves as a testament to its standing as a trailblazer in the Indian automotive ecosystem. With a renewed focus on advancing automotive technology, TKAP is poised to play a pivotal role in shaping the future of mobility in India and beyond.