Toyota will introduce a hybrid car made in Pakistan next month

The Indus Motor Company (IMC), recognized for assembling Toyota vehicles in Pakistan, is preparing to unveil a domestically produced Corolla Hybrid Electric Vehicle (HEV) next month. This move is part of a substantial $100 million investment, aimed at cost reduction and emission mitigation.

Ali Jamali, the CEO of IMC, elucidated that this significant investment in HEV production is not solely about curbing import expenses; it could also result in an annual savings of $37 million by manufacturing 30,000 HEV units. This endeavor marks a notable advancement in Pakistan’s automotive sector, showcasing a commitment to a more sustainable and eco-friendly future.

This undertaking aligns with the United Nations’ Sustainable Development goals, emphasizing climate change mitigation. The introduction of HEVs is anticipated to lower emissions, generate employment opportunities, and enhance export potential.

Jamali underscored factors contributing to the escalating prices of domestically manufactured cars, including high taxes, inflation, the importation of used cars, and currency volatility.

He emphasized the necessity for a well-structured import policy to bolster the growth of the domestic auto industry, highlighting the adverse effects of a substantial influx of used cars into the country. Recent data disclosed a significant surge of over 6,500 used cars during the fiscal year 2022-23, with more than 7,500 units imported in the first three months of the current fiscal year.

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