Toyota Kirloskar Motor (TKM) senior company official has confirmed that they are focussed towards strengthening localization of its products along with technologies to achieve their objective to de-risk its business from foreign exchange fluctuations as well supply chain challenges
A joint venture company of Japanese auto major Toyota and the Kirloskar Group TKM is looking to expand its local content in car manufacturing and is also targeting in the future to produce hybrid systems in the country.
In an interview to PTI, TKM Senior Vice President (Sales and Service) Naveen Soni said, “We are looking at localization not only because of Made in India initiative. Backward integration also insulates from exchange rate fluctuations and makes supply chain shorter,”
Senior Vice President further told that the company as part of the process is continuously giving efforts to grow local content in its products. Soni said. “It is an ongoing process. The engine for Innova Crysta is now manufactured locally. Almost 85 percent of the components used in the engine are locally manufactured. We have gradually increased localization in gearboxes and other critical components,”