Toyota Indus Motor Company (IMC) has announced to invest a huge amount of $100 million to begin locally assembling Hybrid Electric Cars in Pakistan. Official notification was issued for the PSX (Pakistan Stock Exchange) members and shareholders of Indus Motor Company. The production of EHVs is going to commence within three years.
Since, It one of the largest automotive manufacturers in the country, IMC leads the industry by setting new standards in its assembly and design. Their local assembly plant at Port Qasim is of World-class standard. Now, the company aims to upgrade its plant to adherent the assembly of Hybrid Electric Cars in Pakistan. Currently, there is no other assembly plant assembling EHVs in the country.
The decision is made after the Pakistani government amended its tax and levy structure for hybrid and electric vehicles. The government is keen to promote its EV policy and wants all stakeholders to play their part by introducing Hybrid and Electric Vehicles. Hence, It is offering tax exemptions to cut down carbon emissions and save the environment. Since, Pakistan is one of the most affected countries in the World by Global Warming. Fighting climate change in every way possible is the state�s top priority. Bio-fuel is one of the most common sources of carbon emissions, which is a major contributor to climate change.
Toyota, being a trendsetter in many other departments of the auto sector, this move will also set an example for others to follow. It will encourage other manufacturers to produce locally assembled Electric and Hybrid vehicles and do their fair share in helping the economy as well as the environment. Moreover, Toyota has an extensive EV and hybrid lineup globally. Since, two of the products, Toyota Prius and Corolla Cross, are already being sold in Pakistan as Completely Built-Up (CBU) units. While, Toyota C-HR, Toyota Aqua, and a few other imported Toyota HEVs are extremely popular in Pakistan. However, It will be interesting to see what Toyota offers to their Pakistani consumers in the locally assembled Hybrid and Electric range.
