Toyota Indus CEO Refuses Rumors Of Company’s Exit From Pakistan

Toyota Indus Motor Company (IMC), a prominent and one of the most popular automakers in Pakistan, has addressed the recent false rumor circulating in the country regarding the permanent closure of its operations. The company has officially denied the news, clarifying that the temporary shutdown was due to inventory issues and delays in the issuance of Letters of Credit (LCs). IMC emphasized that production units had ceased operations until June 8 as part of their regular operational routine.

Image Source: HamariWeb

Sources say, Toyota IMC CEO, Ali Asghar Jamali, revealed the company’s plans to introduce new vehicle models in Pakistan, including a locally manufactured hybrid SUV that significantly reduces carbon emissions. Although he didn’t specify the model, the hybrid SUV in question is believed to be the Toyota Corolla Cross. Jamali highlighted the positive impact it will have on Pakistan’s environment, reduction in fuel imports, and localization efforts. He claimed that the first locally assembled hybrid SUV from Toyota will reduce carbon emissions by 35%.

Zafar Ali, a senior automotive analyst, pointed out that IMC had made a substantial investment of over $100 million in September 2021 to localize hybrid electric vehicles (HEVs). Despite the challenges faced by the industry, the company is determined to expedite the production of partially indigenized HEVs in Pakistan.

Stay tuned to Brandsynario for more news and updates.