CEO of Toyota Indus Refutes Speculations Regarding Company’s Exit from Pakistan

In response to recent rumors circulating in Pakistan, Toyota Indus Motor Company (IMC), one of the country’s leading automakers, has refuted claims of a permanent shutdown. The company clarified that the temporary closure was primarily a result of low inventory and delays in the issuance of Letters of Credit (LCs), emphasizing that it was part of their regular operational routine. IMC announced that production units ceased operations until June 8, effectively dispelling the speculations.

In an exclusive discussion with The Express Tribune, Ali Asghar Jamali, the CEO of Toyota IMC, disclosed the company’s strategic plans to introduce new vehicle models in Pakistan. Notably, Toyota Indus Motor Company intends to launch a locally manufactured hybrid SUV, which is expected to make a significant contribution towards reducing carbon emissions. While Jamali did not explicitly mention the model’s name, it is widely speculated to be the Toyota Corolla Cross.

Highlighting the environmental benefits, Jamali underscored that the introduction of hybrid models will have a positive impact on Pakistan’s environment, fuel imports, and ongoing localization efforts. He further asserted that the first hybrid SUV to be locally assembled by Toyota in Pakistan is projected to reduce carbon emissions by an impressive 35%.

Renowned Senior Automotive Analyst, Zafar Ali, acknowledged that Toyota Indus Motor Company (IMC) had made a substantial investment of over $100 million in September 2021 towards the localization of hybrid electric vehicles (HEVs). Despite the challenges faced by the industry, IMC remains committed to expediting the production of partially indigenized HEVs in Pakistan.

With this latest development, Toyota IMC has firmly dismissed the baseless rumors of a permanent shutdown, while simultaneously instilling optimism within the automotive industry. The company’s ambitious plans to introduce a locally manufactured hybrid SUV underscore their dedication to sustainable mobility solutions and their commitment to Pakistan’s economic growth and environmental well-being.