As the demand in the country’s auto sector has grown significantly sin 2021, Indus Motor, one of the country’s largest automakers in Pakistan, has decided to increase production by 20 percent.
“To meet the growing demand, Indus Motor plans to increase its production capacity by another 20% by April 2022,” Ali Asghar Jamali, CEO of Indus Motor Company (IMC), told the media.
He said the recently announced $ 100 million investment is entirely for domestic production of hybrid vehicles, with an additional $ 30 million to be used to expand the plant.
He said hybrid cars will help meet all of the government’s macroeconomic and environmental goals, adding that the infrastructure is ready for hybrid vehicles in the country and will help create jobs through localization.
“Hybrid cars reduce up to 50 percent fuel, which directly affects our carbon footprint and emissions,” he said.
According to him, IMC is proud as always to be a pioneer in promoting technological development in Pakistan and developing local engineering base.
“Our ideal goal is to have a 50 hybrid vehicles aim for every new model launched in the future,” he added.
Indus Motor’s is the sole manufacturer of ‘Toyota’ brand in Pakistan. During FY2021, Toyota Yaris remained best selling car in the country , even beating volumetric sales of Honda City and Civic combined.
Indus Motors had a revenue of PKR 179 billion during FY2021 with net Profit of PKR 12 billion.