Toyota’s Hybrid Car Coming to Pakistan!
Ali Jamali, who is the CEO of IMC, recently talked to reporters about how the company is investing a big $100 million in making these electric cars in Pakistan. This large investment is not just about saving money on imports. It’s expected to save about $37 million every year when they start making 30,000 of these electric cars. This is a pretty big deal for Pakistan’s car industry, making it more eco-friendly and sustainable.
Even though there are challenges, Jamali mentioned that there have been some improvements. There are fewer restrictions now on how businesses can get money from overseas (something called letters of credit), which has helped get the materials they need and boosted car sales in September 2023. However, if we compare it to last year, there’s still a 26 percent decrease in sales.
Jamali knows there are issues with making cars and people wanting to buy them. Things like temporary shutdowns of car factories and companies that make car parts not being able to produce as much are causing problems. He praised the government for supporting policies that encourage making things in Pakistan and helping the car industry. He said IMC is committed to facing these challenges and making the car industry better for the future.
This move aligns with the goals of the United Nations, especially the ones about making the world more sustainable. Bringing in these electric cars is supposed to help reduce air pollution, create jobs, and even open up opportunities to sell these cars in other countries.
Indus Motor Company (IMC), the company that puts together Toyota cars in Pakistan, is getting ready to introduce the Corolla Hybrid Electric Vehicle (HEV). They’re going to make it here, and it should be available by December.
Jamali also talked about the challenges that are making locally made cars more expensive. He pointed to things like high taxes, inflation, lots of used cars being brought in from other countries, and the value of money changing a lot. He thinks it’s important to have clear rules about bringing cars into the country to help the local car industry grow. He pointed out that more than 6,500 used cars were brought in during the fiscal year 2022-23, and more than 7,500 in just the first three months of this year. This, according to him, is making it hard for local car production to grow.