By next year, Toyota Indus Motor Company (IMC) plans to upgrade its locally assembly factory to make hybrid electric vehicles (HEVs) locally.
When asked about the schedule for the launching of HEVs, Toyota IMC CEO Ali Asghar Jamali stated that the locally assembled Toyota Corolla Cross will be available in 2023.
He said that the company plans to introduce its hybrid crossover SUV around Rs. 5 and Rs. 7 million. Given the present current economy and the government’s plans to raise vehicle taxes, Toyota IMC will announce its exact prices next year.
Jamali also talked about the company’s intentions for HEV localization. He explained that:
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 stated that HEVs are a midterm solution before EVs while Pakistan needs the infrastructure for the latter, and that changing all vehicles to HEVs can reduce Pakistan’s oil imports by up to 50%.
The EVs will boost regional LNG, coal, and crude oil imports so most of Pakistan’s electricity is generated using fossil fuels even as investment for improving distribution and creating a charging infrastructure would also be needed, Jamali highlighted.