Toyota Indus CEO Denies Rumors of Company Leaving Pakistan. A false rumor regarding the permanent closure of operations at Toyota Indus Motor Company (IMC), one of Pakistan’s prominent automotive manufacturers, recently circulated throughout the country. After days of widespread speculation, IMC has officially addressed and debunked this rumor, putting it to rest.
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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.
During a conversation with The Express Tribune, Ali Asghar Jamali, the CEO of Toyota IMC, revealed the company’s intentions to introduce new vehicle models in Pakistan, notably a domestically manufactured hybrid SUV designed to substantially decrease carbon emissions. Although specific names were not disclosed, the hybrid SUV in question is identified as the Toyota Corolla Cross.
Jamali emphasized that the introduction of hybrid models would yield a favorable impact on Pakistan’s environment, reduce fuel imports, and support localization initiatives. He claimed that Toyota’s inaugural domestically assembled hybrid SUV would result in a 35% reduction in carbon emissions.
Zafar Ali, a Senior Automotive Analyst, brought attention to the fact that Indus Motor Company (IMC) allocated a significant investment exceeding $100 million in September 2021 for the purpose of localizing hybrid electric vehicles (HEVs). Despite the hurdles encountered by the industry, the company is determined to expedite the manufacturing of partially indigenized HEVs in Pakistan.