A false rumor spread across Pakistan recently that Toyota Indus Motor Company (IMC), one of Pakistan’s leading automakers, would permanently shut down its operations. After several days of speculation, IMC has finally come forward to lay this rumor to rest.
According to a media report, the company denied the false news of a permanent shutdown, saying that the temporary closure was due to low inventory and delays in the issuance of the Letters of Credit (LCs). It stressed that production units had stopped until June 8 as part of the ongoing operational routine.
In his discussion with The Express Tribune, Toyota IMC CEO Ali Asghar Jamali said that the company plans to introduce new models in Pakistan, including a locally made hybrid SUV that significantly reduces carbon emissions. While he didn’t mention any names, the hybrid SUV in question is Toyota Corolla Cross.
Jamali stressed that the hybrid models will have a positive impact on Pakistan’s environment, fuel imports, and localization efforts. Toyota’s first locally assembled hybrid SUV will reduce carbon emissions by 35%, he claimed.
Senior Automotive Analyst Zafar Ali noted that IMC invested over $100 million in September 2021 to localize hybrid electric vehicles (HEVs). Despite industry challenges, the company plans to expedite the production of partially indigenized HEVs in Pakistan.