Japan’s Aoyama Seisakusho signs MoU with Karnataka govt for manufacturing unit
27 Jun 2024 1:59 PM GMT
Japan’s Aoyama Seisakusho signs MoU with Karnataka govt for manufacturing unit
Mangaluru: In a significant development Aoyama Seisakusho signed a Memorandum of Understanding (MoU) with the Government of Karnataka during the visit of state’s delegation led by Infrastructure, Large and Medium Industries Minister MB Patil.
The delegation led by MB Patil held strategic meetings with Toyota Motor and Aoyama Seisakusho on the third day of his visit to Japan.
The MoU outlines the establishment of a manufacturing facility in the Japanese Industrial Township in Tumakuru, where a 20-acre plot has been shortlisted. The Karnataka government assured Aoyama Seisakusho of full support in acquiring the land and resolving any future issues they might face, according to a press statement from the Minister’s office.
Aoyama Seisakusho, a key supplier of screws and fasteners for Toyota, recognized Karnataka as an attractive investment destination. Karnataka, as the 4th largest automobile producing state, contributes 8.5 percent to the national output and has been at the forefront of promoting electric mobility.
Karnataka is the first state to launch an electric mobility policy and is now developing a new clean mobility policy. The state has identified two major clusters for ecosystem development in Gauribidanur and Dharwad, aiming to bolster the clean mobility sector. In a significant milestone.
Yukiyoshi Aoyama, President, Yasumi Morita, Managing Director, Hirohisa Kajita, Director, Kenji Tanaka, General Manager, Yuki Mizuta from the Human Resources Development Team, Hidehito Araki, UJA Global Advisory Pvt Ltd’s Consultant representative, and Yosuke Asanomi, Manager of Branch were present during the discussion with Minister Patil.
M.B. Patil met key representatives from Toyota Motor, including Takao Aiba, Project General Manager, External Affairs, Santoshi Yamaguchi, Group Manager, India Middle East Division, and Tomohiko Sugiura, Assistant Manager, External Affairs.
Toyota representatives discussed the rapid growth of the Indian auto market, noting that record sales are achieved every three months, and highlighted the close collaboration between Toyota Kirloskar Motors (TKM) in Karnataka and the state government, expressing their appreciation for continued support.
The Karnataka delegation showcased the state's robust ecosystem in the auto sector, emphasizing future investment opportunities for Toyota and inviting them to attend the Global Investors Meet (GIM) 2025. They also proposed collaboration for the success of the inaugural edition of VDP - SME Connect'25 by engaging Toyota suppliers.
Toyota outlined its future plans for carbon neutrality by 2050, including a comprehensive EV lineup of hybrid EV cars, fuel cell cars, and battery EV cars, with efforts to reduce CO2 emissions across the vehicle lifecycle. The discussions also explored the potential of biofuels in hybrid EV technology, particularly ethanol-based fuels, leveraging Karnataka's significant sugarcane production and the new 20% ethanol blending mandate, reinforcing the state's appeal as a key investment destination.
( Source : Deccan Chronicle )
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