There is roaring good news in town for the automobile industry of Pakistan. The latest news concerns the production of hybrid cars locally which will take the automobile industry to new heights. Are you intrigued enough yet? Find out more about it here:
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What Is The Latest?
In the latest news, it has been announced that the Toyota Indus Motor Company (IMC) has began the process of upgrading its production plant. They are intending to do it to make its production plant viable for the local assembly of Hybrid Electric Vehicles (HEVs) in Pakistan.
What Was Announced?
The CEO of Toyota IMC, Ali Asghar Jamali, shared exciting information in the quarterly meeting. He stated that his company now aims to begin selling HEVs in Pakistan within the next two years. They have not named the particular car yet however, Jamali stated that Toyota will be able to sell its first HEV before July 2024.
What was particularly interesting was how Jamali complimented the government for implementing the Automotive Industry Development and Export Policy (AIDEP) 2021-26. This change allowed them to invest $100 million for the local assembly of HEVs. This shows how internally the government’s policies are helping industries pick up. Jamali also added that at this pace the company is moving in accordance with its expected timeline for a CKD HEV launch in Pakistan.
The Future Prospects
Toyota boasts an interesting line of HEVs including Toyota Prius, Camry, and Corolla Cross. These are its HEV models that are already sold in Pakistan and enjoy popularity. However, despite their prominence, all these vehicles come wit a hefty price tag because they are Completely Built-Up (CBU) imports.
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Other imported HEVs in the Pakistani market such as E160 Toyota Corolla, Toyota C-HR, Toyota Aqua. They also come with staggering price tags but people seem to be shifting to more sustainable cars regardless.
The assembly of HEVs locally will take the company to new heights. Moreover, it will also lead the way for other companies to begin producing their own. This change can potentially lead to the blossoming of the HEV industry in Pakistan. Overall we’re looking at a sustainable future.
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