The new deal will fixate on making India a hotspot for EV battery production, taking advantage of low production costs, strengthening India’s supply chain, and helping India to achieve its carbon neutrality goal by the year 2050.
Toyota’s massive new deal
India wants to become carbon neutral by 2050
Part of this push can be explained by a worldwide effort from governments and the car companies within their borders to bounce back from a massacred global supply chain.
What will be the benefits of Toyota’s expansion?
The new operation underway will create 3,500 new jobs in the Karnataka region, as well as help India start clawing its way toward its carbon-neutral goal, which they hope to reach by the year 2050.
Having a domestic-based EV supply chain that builds both batteries and EV parts will keep costs down and make it easier for Indian citizens to purchase an EV, too.
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