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Indus Motor Company, the assembler of Toyota vehicles in Pakistan, has recently launched its Hybrid Electric Vehicle (HEV) Corolla Cross, which the company says is 50% localised in terms of its value. The company also sees the near-term future of the auto sector in Pakistan as viable for hybrid cars.

The remarks came during the 7th Journalist Summit at Bhurban.

While talking to Business Recorder, Indus Motor Company CEO Ali Asghar Jamali said the time for Electric Vehicles (EVs) is still far away.

“But things will gradually move towards electric vehicles — first its HEV, then there will be PHEV (Plug-in Hybrid Electric Vehicles) and finally electric vehicles and perhaps new (better) technology comes by that time,” he said.

Earlier in the summit, Jamali said the Corolla Cross will see better fuel economy with up to 50% more efficiency.

“This not only translates into significant savings but also contributes to reducing our dependence on imported fuel by approximately 50%.”

Indus Motor counting on its hybrid Corolla Cross as petrol prices hit record high

The company says that it has come to this conclusion on the basis of data from other countries with similar conditions.

Why hybrids

On the sidelines of the unveiling ceremony after the summit, Chief Engineer Toyota Motor Corporation (TMC) Yasushi Ueda told Business Recorder that Toyota sees Hybrid vehicles as the best option for Pakistan keeping in view its infrastructure and customer preference.

“When I arrived in Pakistan, I saw Toyota hybrids (such as Prius and Aqua) already on Pakistan’s roads,” he said, suggesting it shows acceptance of Toyota and other hybrid cars in the Pakistan market.

Ode to localization?

Used hybrid vehicles have been coming to Pakistan in significant numbers mainly from Japan in the near past.

Why not BEVs – the electric vehicles

Jamali shed light on Pakistan’s current energy landscape and the challenges in introducing Battery Electric Vehicles (BEVs).

“Pakistan heavily relies on non-renewable energy sources, hindering the immediate adoption of BEVs (since it would not reduce carbon emissions as one expects from them). However, our HEV technology presents a practical and efficient solution, providing low maintenance costs, reliable batteries, and excellent resale value to our customers,” he said.

Speaking about environmental sustainability, Jamali emphasised the Corolla Cross’ role in curbing emissions, stating, “With a 35% reduction in emissions, the Corolla Cross exemplifies Toyota’s commitment to a greener future for Pakistan. We are delighted to offer a hybrid electric option that significantly contributes to a cleaner environment.”

“Corolla Cross will be a game-changer in the automotive landscape of Pakistan,” Jamali said.

IMC team meets PM to showcase first locally-made Toyota Corolla Cross HEV

Corolla Cross features

Jamali said that deducting government taxes, over 50% of Corolla Cross value comes from localised parts, which makes it unique among other assembled hybrids in the country.

Corolla Cross has been launched in Pakistan at an introductory price range of PKR 9,399,000 for Mid-Level category and PKR 9,849,000 for its high-end category.

“Equipped with a 1.8L Hybrid Electric Engine, Multi Drive Modes including EV, ECO, and Power, 7 SRS Airbags, Blind Spot Monitor, Clearance Sonars, Rear Cross Traffic Alert, 9-inch Floating Display, and Bi-Beam LED Headlamps, the Corolla Cross ensures that our customers experience unrivaled comfort, convenience, and safety,” Yasushi Ueda said.

Comments

Comments are closed.

Muhammad Sabir Shaikh Dec 20, 2023 09:48pm
In Two-wheelers good Quality Graphene Batteries exist.. YADEA, Tailg , AIMA and many more high quality Electric Scooters Available in the world and famous in Europe, Asian countries etc. 2 and 3 Wheelers market trend will change shortly in Pakistan too.
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Tauqir Ahmad Dec 21, 2023 09:38am
The price should be 50% less if 50% local value is added.
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Make in Pakistan Dec 21, 2023 12:10pm
Someone from Toyota should enlighten what kind of parts in this 50%? If these are seats, interior carpeting and plastic, chassis, body and tyres and no value parts like engine, motor, transmission, air conditioning etc then there is nothing to be proud of.
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Muhammed Dec 21, 2023 12:24pm
These Japs have been fooling us for the last 50 years under the garb of local manufacturing of vehicles transferring billions every year through transfer pricing in imports.On the other hand Thailand has achieved remarkable progress not only in manufacturing Japanese vehicles & white goods but also exporting them.
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Syed Waqas Ali Dec 21, 2023 03:27pm
From 50% Localization, 40% have imported materials/components, tools and machinery. Remaining 10% is the cumulative profit of vendor and IMC.
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Az_Iz Dec 21, 2023 08:56pm
The car market is quite small. So 50% localization is a step in the right direction.
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Az_Iz Dec 21, 2023 08:58pm
Pakistan produces about a million motorcycles. So it has about 90% localization. The car market is quite small. So 50% localization is a step in the right direction.
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Sameer Qadir Dec 22, 2023 06:00am
The cars engines and gearboxes constitute 80% value of the total parts, I believe. So if both of these are imported mostly, then value addition vise, Pakistani parts, vendors contribute very little. Would Toyota Motors, agree to a deletion program, in Pakistan, for this most important aspect.
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Nida Dec 22, 2023 10:54am
Why not make it 90 to 100%!
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SECP Dec 22, 2023 11:04am
laanti - 30 saal se operate karahay ho...billions in profit every quarter...import kartay ho ku k wohe cheap parta hai....khudh kuch bananay ki capability develop he nahi ki....ghatya models...puranay generations...fazul features...aur ab kehrahay ho k hybrid bunayengay
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Ch. K A Nye Dec 22, 2023 12:29pm
@Az_Iz, You actually believe in that BS statement?
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[email protected] Dec 22, 2023 06:49pm
Fine good effort but if 50%is locally mid components than why the price n that to introductory around 9.8 million rupees?should be less
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[email protected] Dec 22, 2023 06:52pm
Can someone describe which parts are 50% local .The high value engine n transmission are imported and no efforts were made by IMC as well competitors to set up or develop vendors for such.
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mustafa Dec 22, 2023 07:13pm
@Tauqir Ahmad, have you ever studied any book regarding auto industry ??? car has MSRP Price - which is minimum price by auto headquarter + taxes of every country as per their rules ...
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Imran Hotiana Dec 23, 2023 07:05am
If it is true that 50% value comes from localised parts then it has to be much cheaper than what the company is selling it for. Alternatively ,it means, company earns more or undue profit and not passing the benefit of local manufacturing to the customer. Remember undue profiteering is the main cause of on going sales crisis in motor industry.
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