Toyota Indus Motor Company (IMC) has accelerated its efforts to achieve vehicle production indigenization. During a recent journalists’ meetup, the company informed the audience that it had achieved 65 percent localization of parts.
Toyota IMC claims to have negotiated 30+ technical assistance and technology transfer agreements with foreign companies in order to obtain various technologies and parts that will be helpful in making cars.
Except for Pak Suzuki Motor Company, the company has the highest rate of localization of any automaker (PSMC).
Toyota IMC made a bold claim in an advertisement, claiming: “If you touch the Corolla or Yaris, there is a 90 percent chance that you will touch a locally manufactured part.”
Toyota IMC stated, while highlighting the cost breakdown, that the vehicle cost is dominated primarily by taxes.
It also emphasized that higher sales help the government collect taxes, whereas lower sales hurt the government’s revenue. Toyota IMC CEO Ali Asghar Jamali stated at the event that the company is increasing production to meet rising demand.
He added that the company intends to produce over 90,000 vehicles in 2022 with 100 percent efficiency and overtime.
To read our blog on “Toyota Surprises CBU Buyers with a Price Increase,” click here