IMC to Launch Local Assembled Toyota Corolla Cross in 2023

We are planning to launch our first-ever locally-assembled HEV SUV – Toyota Corolla Cross by 2023. Continuing the legacy of ‘Make in Pakistan’ philosophy, Toyota has already invested $100 million to produce HEVs in Pakistan.”

The CEO went on to reveal that the locally assembled Toyota Corolla Cross will be priced between Rs 5 million to 7 million, however considering the current economic situation of the country and the government’s plan to increase taxes on cars, IMC will reveal its final price next year. Keep in mind Corolla Cross is currently sold by IMC as CBU imported product as is priced from Rs 1.22 crore for the base variant to up to Rs 1.34 crore for the top-spec variant.

According to Jamali, the introduction of hybrid technology would not only add a new dimension to localization in Pakistan but would also benefit the country in terms of forex savings and reduction of the fuel import bill. He underlined that bringing Electric Vehicles (EVs) is also a part of the company’s long-term policy but Hybrid vehicles are a midterm solution before EVs as Pakistan doesn’t have the infrastructure ready for all-electric vehicles. He said:

“We can confidently claim that with existing power generation mix, HEVs can serve all the objectives of EVs, including a cap on carbon emission, reduction in oil import bill while contributing to the localization and increase in GDP. Pakistan imports $9.7 billion worth of crude oil for refineries to produce petrol and diesel and the largest category of import is petroleum commodities, the import bill can be reduced by 50% if the country has 100% HEVs.”

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