By the end of the upcoming year, Indus Motor Company (IMC), the local Toyota vehicle manufacturer in Pakistan, is anticipated to introduce its locally produced Hybrid Electric Vehicle (HEV).
During a recent business conference held on May 5, where they discussed the financial results and forecasts for the third quarter of the fiscal year 2023 (January-March), the company’s senior executives announced this exciting development.
The management of Indus Motor confirmed that work is currently being done on the hybrid facility, according to brokerage house Arif Habib Limited, which was present at the event.
Indus Motor initially declared its intention to invest $100 million in the domestic manufacture of hybrid electric vehicles in September 2021. This investment was going to be spread out over three years, according to the company.
According to the most recent update, the company is making progress with its investment plans and is actively pursuing the production of hybrid vehicles in Pakistan.
The launch of locally constructed hybrid electric vehicles by Indus Motor Company marks a significant advancement for the nation’s auto industry.
This action demonstrates the company’s commitment to offering Pakistani consumers environmentally friendly mobility solutions and is in line with the global trend toward sustainable transportation.
Read more: UAE, Saudi Arabia, US, and India to Develop Mega Railway Project
