Toyota announces the investment of $100 Million in Pakistan

Toyota announces the investment of $100 Million in Pakistan:

Toyota announces an investment of approximately US $100 Million for the production of Hybrid Electric Vehicle (HEV), locally in Pakistan. This decision was encouraged by the growing interest of Pakistan’s government in the support of electric vehicles.

This investment will help in the facilitation of localization of the components, expansion of the plants, and production of HEV (Hybrid Electric Vehicle) to manufacture in Pakistan, at the Indus Motor Company Limited (IMC) plant. This plat is located at Port Qasim in Karachi. 

A delegation led by the Vice-Chairman Shinji Yanagi and Chief Executive Ali Asghar Jamali met Prime Minister Imran Khan at his office. Federal Minister for Energy, Mr. Hammad Azhar, Federal Minister for Industries, Mr. Khusro Baktiar, and Finance Minister, Mr. Shaukat Tareen, were also a part of the meeting.

Imran Khan said while welcoming the investment in the EV sector; ‘Toyota remained the most committed partner for Pakistan even in the most testing times.’ He also said that he welcomes the new investment by Toyota for environmentally friendly hybrid electric vehicles.

The CEO for Toyota Asia, Mr. Yoichi Miyazaki said that this investment will bring Toyota’s Hybrid Electric Technology (HEV) based on the latest technology to Pakistani Customers. He also adds that today’s investment is a testament to the strong commitment that they share with Pakistan. Moreover, they appreciate the Government policies to encourage low carbon mobility solutions.