Toyota Indus Motor Company (IMC) is working hard to upgrade its assembly plant so that it can assemble hybrid electric vehicles (HEVs) locally by next year. When asked about the timeline for the introduction of HEVs, Toyota IMC CEO Ali Asghar Jamali stated that the locally assembled Toyota Corolla Cross will be available in 2023.
He stated that the company’s hybrid crossover SUV will be priced between Rs. 5 and 7 million. Given the current economic situation and the government’s plan to raise car taxes, Toyota IMC will reveal its final price next year.
Jamali also discussed the company’s plans for overall HEV localization. He stated the following:
Toyota has already invested $100 million to produce HEVs in Pakistan and plans to bring electric vehicles (EVs) in the long term when the country is ready for this technology.
Jamali emphasised that HEVs are a midterm solution before EVs because Pakistan lacks the infrastructure for the latter, and that converting all cars to HEVs could reduce Pakistan’s oil imports by up to 50%.
Because most of Pakistan’s electricity is produced using fossil fuels, EVs will increase local LNG, coal, and crude oil imports, while investment in improving distribution and creating a charging infrastructure will also be required, according to Jamali.