Toyota venture 20211/4/2024 Many at IMC have made the mistake of calling Toyota Corolla Cross the first locally assembled HEV of Pakistan. An 8.5% sales tax is applicable for both locally manufactured and imported hybrid cars, SUVs, Vans, and LCVs. The Finance Act 2021 incentivizes hybrid technology, offering customs duty reductions on specific parts and a 1% customs duty on the import of hybrid buses/trucks. Initial promotions will focus on 2-3 wheelers, with major cities like Karachi, Lahore, Rawalpindi, Faisalabad, and Peshawar considered for EV introduction. Smart charging technologies, such as smart metering and time-of-use pricing, will be implemented to alleviate the main grid, especially for Level-2 and above charging stations. In alignment with the Automotive Industry Development and Export Plan (AIDEP) 2021-26, the policy aims to streamline the approval process for charging infrastructure, encouraging existing CNG and fuel stations to participate. While Toyota’s HEVs already have a strong foothold on the Pakistani auto market, all of these vehicles are imported completely built units (CBUs). HEVs are expected to result in lower carbon emissions and a huge reduction in the oil import bill compared to traditional vehicles. A Toyota study supports this perspective, citing HEVs as a mid-term solution due to inadequate electric vehicle infrastructure and the country’s heavy reliance on fossil fuels for power generation. While the government has introduced incentives for both Electric Vehicles (EVs) and HEVs through the new auto policy, IMC emphasizes HEVs as a more viable option in the current landscape. Yoshihisa Miyabe and the Japanese Ambassador to Pakistan, Mitsuhiro Wada. The manufacturing facility, located in Karachi, is set to roll out the much-anticipated 4th generation Toyota Corolla Cross HEV after completing necessary tests and verifications.Īs per information shared by the company on Wednesday, the landmark event, symbolizing a significant stride towards sustainable transportation, was commemorated at a private ceremony attended by key figures including Federal Secretary of the Ministry of Industries & Production, Asad Rehman Gilani Toyota’s top leadership, including Mr. ISLAMABAD: Indus Motor Company (IMC), a major player in Pakistan’s automotive industry, has finally inaugurated its assembly line for the production of what they are calling Pakistan’s first ‘Made in Pakistan’ Hybrid Electric Vehicle (HEV).
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