Toyota Kirloskar Auto Parts Qualifies for Incentive Under PLI Scheme

Bangalore, February 24, 2024: Toyota Kirloskar Auto Parts Pvt Ltd (TKAP), a part of Toyota Group of companies, today announced that it has received the Domestic Value Addition (DVA) Certificate for xEV Transaxle (e-Drive) under the Production Linked Incentive (PLI) Scheme for Advanced Automotive Technology (AAT) products. This development renders TKAP eligible to avail incentives under the Scheme.

TKAP’s product has also met the Testing criteria of Advanced Automotive Technology, and it is certified by the Automotive Research Association of India (ARAI).

Established in 2002, TKAP is engaged in the manufacture and sale of automotive rear axles, propeller shafts, and transmission units. Over the years, the company has grown rapidly to emerge as a significant manufacturer of drive train parts and assemblies (xEV Transaxle) in the Toyota group.

Aligned with “Aatmanirbhar Bharat” and in resonance with Toyota Group’s commitment towards “mass electrification”, TKAP in 2022 set up an advanced manufacturing facility to produce xEV Transaxle (e-Drive) for domestic supply to Toyota Kirloskar Motor and export to Japan and other Asian countries, in a step towards making India Toyota Asia’s Electrification Hub. The new facility, fourth outside Japan, has an annual installed capacity of 135,000 units making it the best-case point of India’s emergence as a global manufacturing hub for EV parts. The product is a core component in all Electrified Vehicle technologies (xEVs) including Strong Hybrid Electric Vehicle (SHEV), Plus-in Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Flex Fuel Strong Hybrid Electric Vehicle (FFV-SHEV).

xEV Transaxle

Furthermore, apart from the localization of the electrified parts/components, TKAP has also been successful in localizing its plant and machineries that are being used to produce these local parts/components to a large extent.

Commenting on the development and expressing his gratitude to the Government, K N Prasad, Managing Director, Toyota Kirloskar Auto Parts, said “Given the renewed capability of Indian auto industry and the strong continued Government support through schemes such as PLI, we have made visible progress in establishing India as a critical manufacturing hub of advance, clean and efficient vehicles aimed at attending competitive pricing in the future,”

For rapid electrification, it is necessary to localize and manufacture EV parts in India at a global scale and quality. Hence, the mandatory local value addition criteria set by the Ministry of Heavy Industries, Government of India enables further competitiveness in the locally manufactured Advanced Automotive Technology products.

The robust and thorough SOP established by the Ministry of Heavy Industries and IFCI in consultation with stakeholders has enabled applicants to prepare appropriately and meet the established criteria.”

Over the years, Toyota Group of companies has been a significant contributor to the country’s “Make-in-India” Mission. The Group, including Toyota Kirloskar Motor, Toyota Kirloskar Auto Parts and Toyota Industries Engine India have invested more than INR 16,000 crores until December 2023.

Panasonic launches new AC line-up for 2024

New Delhi, February 12, 2024: Further to Panasonic’s recent ground-breaking advancement i.e., India’s First Matter-Enabled Room Air Conditioners (RACs)* powered by Miraie, Panasonic Life Solutions India (PLSIND)– a leading diversified technology company, today, announced its 2024 line-up of Air Conditioners, including the latest range of Matter-enabled Room Air Conditioners (RACs). Responding to the sharp increase in demand for cooling appliances, Panasonic’s has introduced 60 new models across its complete range of ACs. These new models are available for consumers across all leading outlets, e-commerce platforms and on the Panasonic Brand Store at https://pnsnic.com/AC_p_r. Panasonic range of Air Conditioners equipped with Matter protocol is available in 1.0, 1.5- and 2.0-tons models.

Mr. Fumiyasu Fujimori, Managing Director, PMIN, Panasonic Life Solutions India said, “Our recently commissioned study ‘Panasonic’s 2024 Young Parents Everyday Life Concerns’ highlighted multifaceted considerations of consumers when dealing with AC-related issues- extending beyond basic cooling, i.e., indoor air hygiene, efficiency and technological integration (connectivity). We developed and manufactured our new range of ACs, keeping the evolving needs of our consumers in mind. The new line-up of ACs, comprising of India’s first Matter-enabled RACs will not only provide inter-operability but, is simple to use, reliable and secure. By seamlessly connecting with other Matter-certified devices and platforms, they will facilitate a smarter and more efficient use of energy, optimizing comfort while minimizing environmental impact. With this, Panasonic takes a significant leap in innovation, ensuring flexibility, and convenience for consumers in the smart appliances’ realm.”

Mr. Abhishek Verma, Business Head, Air Conditioners Group, PMIN, PLSIND said, “At Panasonic, Air Conditioners are an important growth engine for our consumer durables division and in this competitive market, we consistently innovate in line with changing consumer preferences. From Indoor Air Quality, energy conservation, connectivity to further building on the convenience aspect, we have now integrated Matter (in our RACs) with our Miraie platform to redefine the smart home experience. Matter provides inter-operability and is simple to use, reliable and secure. In short, a Panasonic Air Conditioner equipped with Matter technology is easily managed using the Miraie platform or, any other Matter- compatible platform. Similarly, any other Room Air Conditioner brand that is compatible with Matter is easily controlled through the Miraie platform. We are expecting a robust demand for ACs this season and are hoping to grow by 40% compared to last AC season.”

With an expertise of over 65 years in developing Air Conditioners, Panasonic’s new range of ACs are tech-enabled and are designed to deliver Cooling, Quality (reliability) and a Connected experience to redefine smart living.

Cooling performance is ensured through technologies such as Jetstream, Converti7 (7 different cooling performance modes) Aerowings and 4-Way Inflow to deliver higher Cubic Feet per Minute – the volume of air circulated in a minute by an AC (higher CFM indicates better cooling). This coupled with Panasonic’s nanoe™X and nanoeTMG technologies, helps ensure a healthy indoor AQI by eliminating PM 2.5 particulate matter, dust particles, bacteria, and viruses.
Quality and Reliability are guaranteed through technologies such as inverter, ECOTOUGH, ShieldBlu+, ECONAVI (for energy optimisation), AG Clean+, Crystal Clean to name a few.
Connectivity for smart living comes with technologies such as Matter -an open-source connectivity standard that enables seamless interoperability across smart devices, powered by Miraie – Panasonic’s connected living platform and True AI (Artificial Intelligence – automatically adjusts the AC settings/parameters for comfort cooling). Delivering on its ‘Make in India’ commitment, all Panasonic ACs are manufactured at our Technopark plant in Haryana.