A delegation from Indus Motor Company, led by Vice Chairman, Mr. Shinji Yanagi and Chief Executive, Mr. Ali Asghar Jamali, met with Prime Minister Shehbaz Sharif, today at the Prime Minister’s Office to showcase the first locally manufactured, Toyota Corolla Cross Hybrid Electric Vehicle. Also participating in the meeting was Mr. Yoshiki Konishi, President, Toyota Asia, who is also the Chief Engineer of the Corolla Cross. His Excellency, Mr Mitsuhiro Wada, Ambassador of Japan to Pakistan, also graced the occasion along with Members of the Cabinet, including the Federal Minister of Finance, Mr Ishaq Dar and Federal Minister of Industries & Production, Mr Makhdoom Murtaza Mehmood, Advisor to PM, Mr Ahmed Khan Cheema and Special Advisors to PM, Mr Tariq Bajwa and Mr Jahanzeb Khan.
The Prime Minister commended Toyota’s initiative in bringing the first locally manufactured Hybrid SUV to Pakistan and emphasized the need to further localization efforts in the country as well as focus on exports. He further assured to uphold the incentives for Hybrid Electric Vehicles as outlined in the AIDEP 2021-26 policy. The Federal Minister of Finance, Mr Ishaq Dar, also appreciated the Corolla Cross Hybrid and the benefits the country would derive from the new technology both economically and environmentally.
A delegation from Indus Motor Company, led by Vice Chairman, Mr. Shinji Yanagi and Chief Executive, Mr. Ali Asghar Jamali, met with Prime Minister Shehbaz Sharif, today at the Prime Minister’s Office to showcase the first locally manufactured, Toyota Corolla Cross Hybrid Electric Vehicle. Also participating in the meeting was Mr. Yoshiki Konishi, President, Toyota Asia, who is also the Chief Engineer of the Corolla Cross. His Excellency, Mr Mitsuhiro Wada, Ambassador of Japan to Pakistan, also graced the occasion along with Members of the Cabinet, including the Federal Minister of Finance, Mr Ishaq Dar and Federal Minister of Industries & Production, Syed Murtaza Mehmood.
The Prime Minister commended Toyota’s initiative in bringing the first locally manufactured Hybrid SUV to Pakistan and emphasized the need to further localization efforts in the country as well as focus on exports. The Federal Minister of Finance, Mr Ishaq Dar, also appreciated the Corolla Cross Hybrid and the benefits the country would derive from the new technology both economically and environmentally.
Mr Yoshiki Konishi, President, Toyota Asia said: “For over 30 years, Toyota has contributed to Pakistan, thanks to the support of the government and people of Pakistan. I feel the Corolla, a product that is dear to my heart, has become Pakistan’s “people’s car” in terms of brand and meets Toyota’s vision of “Mobility for All”. With the launch of the new Corolla Cross HEV, we strongly believe that this HEV technology will become a solution that can gain scale and allow for accessible electrification in Pakistan, as it uses a relatively small battery and requires no additional infrastructure. It has also been proven to reduce Carbon Emissions and Improve Fuel Consumption by 30 – 50% based on research by external agencies in several countries.
The Corolla Cross HEV also aligns well with Pakistan’s national interests such as investment, employment and building electrification for the next generation auto industry in the country. Importantly, it also can significantly reduce crude oil imports, reduce carbon emissions, and foreign exchange outflows to name a few. We remain confident that with the continued support of this honourable Government, such as the AIDEP 2021-26 including HEV incentive, the Corolla Cross HEV will continue to win the hearts of the people of Pakistan.”
His Excellency, Mr Mitsuhiro Wada, Ambassador of Japan to Pakistan, said: “The Embassy of Japan is delighted to see the idea take shape in less than two years of the Hybrid investment decision. This will no doubt further the economic ties between Japan and Pakistan and the over 70 years diplomatic relations. I would like to appreciate Toyota for making tireless efforts to strengthen our relationship, transferring skills and technologies, and promoting economic and social development in Pakistan. As the Ambassador of Japan to Pakistan, I pledge to continue to support activities to materialize existing and future potential in both countries and to make our relations stronger than ever before.”
Mr Ali Asghar Jamali, Chief Executive, Indus Motor Company briefly explained to the PM and the cabinet members, the HEV technology and how Pakistani consumers will benefit from it and the long term impact the HEVs will have on the country’s economy and environment. He expressed:
“This indeed is a historic moment, one that proudly places Pakistan on the global map with its first locally manufactured Hybrid SUV with the highest ever localized content. IMC has delivered on its promise and we are thrilled to bring the most efficient, 4th Generation Hybrid Electric Vehicles to our customers, which we plan to launch by early next year. The HEVs will contribute tangibly towards making Pakistan less vulnerable to climate change and help reduce carbon footprint of our vehicles, in line with the vision of our honorable Prime Minister, Shehbaz Sharif. We request the Prime Minister for sustaining the Hybrid incentives, which will not only spear industry growth but also help the country to achieve the UNs 2030 Agenda for Sustainable Development.”
IMC has invested US$100 million for the local production of Hybrid Electric Vehicles in Pakistan. The company has contributed massively towards establishment of the local automobile in the country, by creating its complete value chain with over 50 Part Manufacturers making over PKR 250 million worth of parts every working day, 53 independently owned authorized dealerships providing aftersales service to customers and employing over 450,000 people directly and indirectly, working across Pakistan.
