Toyota Indus Motor Company (IMC) is putting a lot of effort into expanding its assembly plant so that it can assemble hybrid electric vehicles (HEVs) on-site by next year.
When asked about the timeline for introducing HEVs, Toyota IMC CEO Ali Asghar Jamali stated that the locally assembled Toyota Corolla Cross will be available in 2023 and will cost between $5 and $7 million.
Given the current economic climate and the government’s plans to raise vehicle taxes, Toyota IMC will announce its final price next year. Jamali also discussed the company’s plans for HEV localization in general.
He explained that Toyota has already invested US$100 million in the production of HEVs in Pakistan, and that the company plans to bring electric vehicles (EVs) to market when the country is ready.
HEVs, rather than electric vehicles, are a medium-term solution, according to Jamali, because Pakistan lacks the infrastructure for the latter, and Pakistan could reduce its oil imports by up to 50% if all cars were converted to HEVs. Because most of Pakistan’s electricity is generated from fossil fuels, EVs will increase local imports of LNG, coal, and crude oil. Jamali points out that investments would be required to improve distribution and build charging infrastructure at the same time.
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