Sunday, July 14, 2024

Indus Motor to Launch Locally-Assembled Hybrid Electric Vehicle Next Year in Pakistan

Indus Motor Company (IMC), the local manufacturer of Toyota vehicles in Pakistan, is expected to launch its locally manufactured Hybrid Electric Vehicle (HEV) by the end of the upcoming year.

This exciting development was disclosed by the company’s senior executives during a recent business conference held on May 5, where they discussed the financial results and forecasts for the third quarter of the fiscal year 2023 (January-March).

As per brokerage house Arif Habib Limited, which attended the event, Indus Motor’s management confirmed that construction of the hybrid facility is currently underway.

In September 2021, Indus Motor had initially announced its intention to invest $100 million in the local production of hybrid electric vehicles. The company planned to allocate this investment over a span of three years.

The latest update indicates that the company is progressing with its investment plans and is actively working towards the production of hybrid vehicles in Pakistan.

The introduction of locally built hybrid electric vehicles by Indus Motor Company signifies a significant step forward in the country’s automotive industry.

This move aligns with the global trend towards sustainable transportation and demonstrates the company’s commitment to providing environmentally friendly mobility solutions to the Pakistani market.

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