Japan’s Aoyama Seisakusho signs MoU with Karnataka to set up manufacturing unit in Tumakuru
Japan’s Aoyama Seisakusho signs MoU with Karnataka to set up manufacturing unit in Tumakuru
Japan-based Aoyama Seisakusho, which provides fastening systems to leading car brands, signed a Memorandum of Understanding (MoU) with the Karnataka government.
“This MoU outlines the establishment of a manufacturing facility in the Japanese Industrial Township in Tumakuru, where a 20-acre plot has been shortlisted,” said Karnataka's Minister for Large and Medium Industries and Infrastructure Development MB Patil.
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“The Karnataka government assured Aoyama Seisakusho of full support in acquiring the land and resolving any future issues they might face. This further reinforces the state’s commitment to creating industrial growth and international partnerships,” Patil said.
“Karnataka's e-mobility policy offers substantial incentives, including a 15%-25% capital subsidy and a 1% Production Linked Incentive (PLI) for a period of five years, making it a lucrative destination for companies in the electric vehicle (EV) and clean mobility sectors,” he said.
"Aoyama Seisakusho, a key supplier of screws and fasteners for Toyota, recognised Karnataka as an attractive investment destination. Karnataka, as the fourth largest automobile producing state, contributes 8.5% 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,” he said.
Patil also met key representatives from Toyota Motor Corporation and highlighted the close collaboration between Toyota Kirloskar Motors (TKM) in Karnataka.
“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,” a statement from the minister’s office said.
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