Pakistan is now in a growing phase of the Automobile sector and many companies are investing. Finally, Toyota will invest $100 million for Hybrid EVs in Pakistan.
This amount will be used for expanding the existing production and installing the new one for Hybrid EVs production.
The investment announced will go to localization of components, plant expansion, and production preparation for the first hybrid electric vehicle produced at (IMC) factory located in Port Qasim, Karachi.
A delegation from Indus Motor Company was led by Deputy Chairperson, Mr. Shinji Yanagi, and Chief Executive, Mr. Achar Jamali, met with the Prime Minister today at the Prime Minister’s office.
This meeting was also followed by Mr. Yoichi Miyazaki, CEO for Toyota Asia, through video videos. Cabinet members including the federal minister for the industry, Mr. Khusro Bakhtiar, federal minister for energy, Mr. Hammad Azhar, and Minister of Finance, Mr. Shaukat Tareen also attended the meeting. Japanese ambassador to Pakistan, H.e. Mr. Kuninori Matsuda, also adorned the event.
Mr. Yoichi Miyazaki, CEO for Toyota Asia said, “We are pleased to announce this new investment to bring the latest generation hybrid electrical technology to our customers in Pakistan.
The announcement of the current investment is proof of our strong commitment to Pakistan and trust in the government. We appreciate government policy for Encourage low carbon mobility solutions.
Toyota always strives to offer the most appropriate technology and products to meet the demand for diverse countries. This option will allow us to move towards carbon neutrality and electrification on a scale.
We believe that every type of vehicle that is owned His role and based on our global experience, we believe that hybrid electric vehicles have the greatest potential to achieve mass electrification and effectively reduce CO2 emissions with the earliest period of time, contributing to the noble vision of the Prime Minister “Pakistan clean and green”.
Imran Khan’s Prime Minister said that Toyota’s investment announcement said: “Toyota / Japan remains the most committed partner for Pakistan even in the most testing period. We appreciate our relationship and Toyota’s trust in the Pakistani economy and welcome this new investment for hybrid electric vehicles Eco-friendly. Indus motorcycle companies are an extraordinary example of how global companies can grow successfully here in Pakistan “.Imran Khan
Japanese ambassador to Pakistan, H.e. Mr. Kuninori Matsuda, while welcoming the decision, “The Japanese Embassy believes that new investment decisions will take economic ties between Japan and Pakistan to the next level.
This is a symbolic milestone when we approach the 70-year anniversary of the establishment of our diplomatic relations, in 2022. I hope That Japanese car technology will play a key role to realize a new Pakistani car development plan.
The Japanese Embassy also promised to continue to make maximum efforts to create a business environment that supported Japan’s business in Pakistan, in collaboration with the Pakistani government “.
Mr. Ali Asghar Jamali, Chief Executive, Indus Motor Company Ltd. said, “The investment announcement currently represents the strong commitment of the IMC to our community because we contribute significantly to make Pakistan less vulnerable to climate change.
Toyota has several electrification technologies, and among them, we believe strong hybrids are practical and sustainable solutions for achieving mass electrification.
We like to bring the most efficient 4th generation hybrid electric vehicles to our customers who will help reduce the carbon footprint of our vehicle, in line with the vision of our honorable prime minister, Imran Khan “.
The IMC has contributed massively to the formation of the local car industry in Pakistan, by creating a complete value chain with more than 60 manufacturers of the top of the 200 million PCR spare parts every working day, 50 dealers owned independently provide after-sales service to customers, and Employ more than 60,000 people, directly and indirectly, working throughout Pakistan.
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