Hybrid Cars Are a Mid-Term Solution Before Launching EVs in Pakistan — CEO Toyota IMC

Auto Industry Media Workshop 2022 recently highlighted the role of hybrid electric vehicles (HEVs) in transforming the automobile landscape in Pakistan. Organized by Toyota Indus Motor Company (IMC), the workshop also underlined localization levels achieved by the local auto industry and the impact of successive auto policies on the industry.

CEO Toyota IMC Ali Asghar Jamali, industry experts, and several auto part makers briefed the media about the effectiveness of successive auto policies, factors affecting prices in the auto sector, and the company’s vision of manufacturing HEVs locally.

Experts stated that sustaining the publicly announced incentives during policy periods is the only solution to enhance the automotive sector. Pakistan should develop a national industrial policy for 20 years so that serious investors can come to Pakistan, they added

They believe that such a policy will eventually attract Foreign Direct Investment (FDI) in steel, resin, light engineering, and other sectors, which will further strengthen the value chain.

“The automotive industry is one of the fastest-growing industries in Pakistan. It accounts for over 2-3 percent of Pakistan’s GDP. Pakistan is the 35th largest producer of automobiles,” Jamali said.

He added that IMC is increasing production capacity to meet increasing customer demands. He requested suppliers to enhance their capacities to meet future demands as the company aims to produce over 90,000 vehicles in 2022 with 100 percent efficiency and overtime. “We are putting extra effort and time currently to produce vehicles more than our current capacity,” he added.

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