Overview
Toyota Indus Motors has spent over $100 million on manufacturing hybrid vehicles in Pakistan. After showing the first unit of the Corolla Cross hybrid SUV to PM Shehbaz Sharif rumors spread regarding the near launch of the vehicle. Meanwhile, the company has faced tough challenges due to the economic crisis. But they are working and investing huge amounts to achieve the target.
IMC is one of the popular Japanese auto manufacturing brands in Pakistan. the effort of companies in hybrid vehicle production is really appreciated. DFSK and MG Motors’ new electric vehicle production and Toyota’s investment in hybrid units seem growing in Pakistan’s automotive industry.
First Corolla Cross HEV
The first unit was shown to PM Shehbaz Sharif in June 2023. A delegation under the lead of Vice Chairman Shinji Yanagi and Chief Executive Ali Asghar met with the Prime Minister and showed him the HEV. He really appreciates the effort of the company and shows their full support of HEV production in Pakistan.
Meanwhile, the Auto Policy 2021-2026 has included multiple benefits for EV production in Pakistan. compared to the global market Pakistan is not in the smooth line of EVs production. The global market produces EVs rapidly and makes its name at the top of the list. Electric Vehicles production got encouragement because they are also green cars. Good for the environment and reduce pollution. petrol and diesel engines produce carbon emissions which makes pollution in the air.
Expected Launch
Previously we catch the news that the HEV would be launched in June-July 2023. But due to the dwindling economic situation and tough challenges of the economy IMC delayed the launch of the vehicle. But again we catch news from our source that the company has a plan to launch the vehicle this month.
Conclusion
Economic stability is necessary for the automotive sector to grow. A number of new vehicles are paused at production and launches are delayed due to economic crisis and import restrictions. Automakers rises issues several times and complain about unfavorable government taxes and restrictions. Meanwhile, in the last few days, we have heard some releases from the government and automakers are really up to launch new vehicles.
