Toyota: $100M Investment in Pakistan

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Toyota: $100M Investment in Pakistan

Pakistan is one of the countries where Japanese automobile companies reign over the streets. So many people prefer to buy vehicles manufactured by Toyota, Mazda, Honda, and Nissan. A great percentage of vehicles on the road are from Japanese automakers. However, all of them run on combustion engines. People are increasingly becoming conscious of the smoke produced by combustion engines that pollutes the environment. The concerns over gradually increasing global warming are becoming quite apparent.

Most of the developed countries are now switching from combustion engines to electric motors. Electric motors produce a very little amount of CO2 which is not harmful to the environment. However, Pakistan has yet to see the production of electric vehicles. Similarly, there are problems like smog and pollution that leave much to desire.

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Hybrid Electric Vehicles in Pakistan

eco friendly

Finally, 2021 is here with good news. One of the world's largest automobile manufacturers, Toyota Motor Corporation is now going to produce hybrid electric vehicles in Pakistan. This local production will require an investment of 100 million US dollars. It is indeed a great initiative and will help in improving the environmental conditions in Pakistan.

Hence, Toyota has decided to localize the components to avoid the export fee. The investment will help with the expansion of the production plant and in preparing for the production of the first HEV. The manufacturing will start at Indus Motor Company Limited (IMC) plant which is located at Port Qasim in Karachi.

The Meeting

To announce their decision, a delegation of IMC which included Vice-Chairman Shinji Yanagi and Chief Executive Ali Asghar went to the Prime Minister's Office to meet PM Imran Khan. This meeting was also attended by many other government officials, including the Federal Minister for Industries Khusro Bakhtiar, Finance Minister Shaukat Tareen, and Federal Minister for Energy Hammad Azhar. Together they all welcomed the investment wholeheartedly.

Prime Minister Imran Khan declared Toyota the "most committed partner for Pakistan" as it stepped forward to help during the testing times. He said that he welcomes the investment for "environment-friendly hybrid electric vehicles."

CEO for Toyota Asia, Yoichi Miyazaki, said that "Today’s investment announcement is testament to our strong commitment to Pakistan and trust in the Government. We appreciate the Government’s policies to encourage low carbon mobility solutions". This decision will bring the latest hybrid electric vehicles to Pakistan. They will reduce less carbon dioxide and will help in tackling pollution.

Go Green

eco friendly

This initiative by Toyota Motor Corporation goes on parallel grounds with the noble vision of "Clean and Green Pakistan" introduced by Prime Minister Imran khan. It will be a great way to play our part in fighting global warming, environmental pollution, and different lung diseases.

This decision will surely bring Pakistan and Japan closer to each other. Ambassador of Japan to Pakistan, Kuninori Matsuda, said that the "embassy of Japan is confident that the new investment decision will take the economic ties between Japan and Pakistan to the next level". The diplomatic relationship between Japan and Pakistan that started 70 years ago will now reach another anniversary in 2022. Hence, the coming anniversary will see the production of HEV in Pakistan.

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This news was presented to you by USS Inc. Japan (USSTokyo). We connect our clients directly with the Japanese auction houses. You can now easily place your bids online. Moreover, our user-friendly website makes it easier for you to go through the auction sheets to buy your favorite car. For more information, visit our website.

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