Toyota Indus Motor Company (IMC) is actively upgrading its assembly plant to locally assemble hybrid electric vehicles (HEVs) by next year. Upon being asked about the timeline for the launch of HEVs, Toyota IMC CEO, Ali Asghar Jamali, stated that the company will launch the locally assembled Toyota Corolla Cross in 2023.
He stated that the company aims to launch its hybrid crossover SUV in a Rs. 5 to 7 million price bracket. However, given the current economic situation and the government’s plan to increase taxes on cars, Toyota IMC will reveal its final price next year.
Jamali also shared the company’s plans for the overall localization of HEVs. He stated that:
Toyota has already invested $100 million to produce HEVs in Pakistan and plans to bring electric vehicles (EVs) in the long term when the country is ready for this technology.
Jamali underlined that HEVs are a midterm solution before EVs as Pakistan doesn’t have the infrastructure for the latter, adding that Pakistan can reduce its oil imports by up to 50 percent if all cars are converted to HEVs.
The EVs will increase local LNG, coal, and crude oil imports since most of Pakistan’s electricity is produced using fossil fuels while investment for improving distribution and creating a charging infrastructure would also be required, Jamali highlighted.
Now that hybrid technology is getting obsolete Toyota is thinking to bring it in Pakistan.
That’s how they make money here but they have introduced battery cars in America and Europe
azembled as usual which Pakistan pays 2 billion annually.
azembled as usual which Pakistan pays 2 billion dollars annually. greedy toyota
It seems game over for Pakistani car companies with hike in interest rates and reduction in mortgage period.
Affordable my foot