Japanese carmaker Toyota’s Pakistani unit said it is upgrading its production plant for the local assembly of Hybrid Electric Vehicles (HEVs) in Pakistan.
Demand for sustainable vehicles has been on the rise globally and Pakistan has set the vision to work on clean transport following the approval of the National Electric Vehicle Policy and the plan is to have 30% electric vehicles (EV) on roads by 2030.
Toyota Indus Motor Company (IMC) has decided to begin the process of upgrading its production plant in Pakistan, according to the most recent news. The local production of hybrid cars will propel the automobile industry to new heights.
Toyota Pakistan intends to do so in order to make its manufacturing plant viable for local assembly of HEVs in Pakistan. Ali Asghar Jamali, the CEO of Toyota IMC, shared exciting news during the quarterly meeting. He stated that his company is planning to sell HEVs in Pakistan within the next two years.
They have not yet named the vehicle but the company is working on the plan to sell its first HEV by July 2024.
What was especially interesting was Jamali’s praise for the government’s implementation of the Automotive Industry Development and Export Policy (AIDEP) 2021-26. This change enabled them to invest $100 million in local HEV assembly.
This demonstrates how internal government policies are assisting industries to recover. Jamali also stated that at this rate, the company is on track to meet its target timeline for the launch of a CKD HEV in Pakistan.
Toyota has a diverse lineup of HEVs, including the Toyota Prius, Camry, and Corolla Cross. These are its HEV models, which are already available in Pakistan and are well-liked. Despite their popularity, all of these vehicles are expensive because they are Completely Built-Up (CBU) imports.