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Monday 27 May, 2024
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Indus Motors Becomes Pakistan’s First Four-Wheeler Assembler to Start Exports

BY Shahzad Saeed Jul 12, 2023. 06:29 pm UPDATED: Jul 12, 2023. 06:29 pm

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The Toyota vehicle manufacturer in Pakistan, Indus Motor Company, has declared that following a deal with Toyota Egypt, it has begun exporting cars to other nations. A Pakistani company in the four-wheeler industry has never before started exporting cars.

The first shipment, which is a significant milestone for Pakistani auto exports, has already been sent, according to the company’s CEO, Ali Asghar Jamali. Jamali added that it is too early to say whether this will address every issue the nation’s struggling auto industry is currently facing.

Due to difficulties with the issuance of Letters of Credit and import limitations brought on by insufficient foreign exchange reserves, the auto industry has been experiencing difficulties.

Despite these difficulties, Indus Motor Company is optimistic and sees this first export as a modest step towards future potential growth. The company intends to export particular components to Egypt and hopes that other manufacturers will grow confident and look into exporting possibilities. This collaboration with Toyota Egypt complies with the standards established by the Auto Industry Development and Export Policy.

Read more: Russian tourist converted to Islam while visiting a historic mosque in Turkey

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