Toyota Indus Motor Company (IMC) has picked up pace in achieving vehicle production indigenization. In its recent journalists’ meetup, the company apprised the audience about having gained 65 percent localization of parts.
Toyota IMC claims to have arranged for 30+ technical assistance and technology transfer agreements with foreign companies to procure various technologies and parts.
The company boasts the highest localization rate of all automakers except Pak Suzuki Motor Company (PSMC). In an advertisement, Toyota IMC made a bold claim, stating that:
If you touch the Corolla or Yaris, there is a 90 percent chance that you will touch a locally manufactured part.
While highlighting the cost-breakup, Toyota IMC stated that the vehicle cost is dominated mostly by taxes. It also underlined that better sales also benefit the government in tax collection and that a decline in sales will hurt the government’s revenue.
During the event, Toyota IMC CEO Ali Asghar Jamali stated that the company is ramping up its production to meet the rising demand. It plans to produce over 90,000 vehicles in 2022 with 100 percent efficiency and overtime, he added.