Toyota Indus Motor Company announced yesterday that it will invest $100 million to begin the local production of Hybrid Electric Vehicles in Pakistan over the next three years.
The news was also brought to the attention of Prime Minister (PM) Imran Khan who appreciated the initiative.
A delegation of the Toyota Indus Motor Company (IMC) called on PM Khan for a meeting that was attended by its Vice-Chairman Shinji Yanagi, Chief Executive Officer (CEO) Ali Asghar Jamali, Minister of Finance Shaukat Fayyaz Tareen, Minister of Industries and Production Makhdoom Khusro Bakhtiar, Minister of Energy Muhammad Hamad Azhar, and other concerned senior officials.
The delegates apprised the premier of their plans for the localization of car components and the up-gradation and extension of the existing assembly plant to facilitate the production of Hybrid Electric Vehicles (HEVs) in Pakistan.
The PM commended the company’s decision and said that it will be instrumental in reducing air pollution and preventing a climatic shift within the country. He also directed concerned authorities to work on acquiring a sizable share for Pakistan in the global auto export market.
The premier insisted on the Toyota IMC ensuring the affordability of the HEVs for the general public and affirmed the complete support of the government for the fulfillment of the company’s plans for the automotive market of Pakistan.
