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Toyota announces over $100m investment in Pakistan for local production of HEV

Zibago

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Toyota announces over $100m investment in Pakistan for local production of HEV
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Toyota announces over $100m investment in Pakistan for local production of HEV

https://nation.com.pk/NewsSource/pr
-PR
September 09, 2021


KARACHI - Toyota will invest over US$100 million for the local production of Hybrid Electric Vehicle (HEV) in Pakistan. The announced investment shall go towards localization of components, plant expansion and production preparation for the first Hybrid Electric Vehicle to be manufactured at Indus Motor Company Limited (IMC) plant located at Port Qasim, Karachi.
A delegation from Indus Motor Company led by the Vice Chairman, Shinji Yanagi and Chief Executive, Ali Asghar Jamali, met with the Prime Minister at the Prime Minister’s Office to announce the new investment. The meeting was also participated by Yoichi Miyazaki, CEO for Toyota Asia, via video message. Members of the Cabinet including the Federal Minister for Industries, Khusro Bakhtiar, Federal Minister for Energy, Hammad Azhar and Finance Minister, Shaukat Tareenalso attended the meeting. The Ambassador of Japan to Pakistan, Kuninori Matsuda also graced the occasion.
Yoichi Miyazaki, CEO for Toyota Asia, said, “We are excited to announce this new investment for bringing Toyota’s latest generation Hybrid Electric Technology to our customers in Pakistan. Today’s investment announcement is testament to our strong commitment to Pakistan and trust in the government. We appreciate the government’s policies to encourage low carbon mobility solutions. Toyota has always strived to offer the most appropriate technologies and products to meet the country’s customers’ diverse demands. This choice will allow us to move towards carbon neutrality and electrification at scale. We believe that each kind of electrified vehicle has its role and based on our global experience we are certain that Hybrid Electric Vehicles have the greatest potential to achieve mass electrification and effectively reduce CO2 emissions at the earliest timeframe, contributing to the Prime Minister’s noble vision of a “Clean and Green Pakistan”.

Prime Minister Imran Khan, whilst appreciating Toyota’s investment announcement, said: “Toyota/Japan has remained the most committed partner for Pakistan even in the most testing times. We value our relationship and Toyota’s trust in Pakistan’s economy and welcome this new investment for environment friendly Hybrid Electric Vehicles. Indus Motor Company is a wonderful example of how global companies can grow successfully here in Pakistan”.
Ambassador of Japan to Pakistan, Kuninori Matsuda, whilst welcoming the decision said, “The Embassy of Japan is confident that the new investment decision will take the economic ties between Japan and Pakistan to the next level. It is a symbolic milestone as we approach the 70th anniversary of the establishment of our diplomatic relations, in 2022. I hope that the Japanese auto technology will play a key role to realize the new Pakistani automobile development plan. The Embassy of Japan also pledges to continue to make its maximum effort to create a supportive business environment for Japanese businesses here in Pakistan, in cooperation with the Government of Pakistan”.

Ali Asghar Jamali, Chief Executive, Indus Motor Company Ltd, said, “Today’s investment announcement represents IMC’s strong commitment towards our community as we contribute tangibly towards making Pakistan less vulnerable to climate change. Toyota has multiple electrification technologies, and among those, we believe Strong Hybrids are a practical and sustainable solution for achieving mass electrification. We are thrilled to bring the most efficient 4th Generation Hybrid Electric Vehicle to our customers which will help reduce carbon footprint of our vehicles, in line with the vision of our Honorable Prime Minister, Imran Khan”.
IMC has contributed massively towards establishment of the local automobile industry here in Pakistan, by creating its complete value chain with over 60 part makers making over PKR 200 million worth of parts every working day, 50 independently owned dealerships providing after sales service to customers and employing over 60,000 people directly and indirectly, working across Pakistan.
 

Zibago

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Wow...I am speechless.....Congratulations......securing $100 Million of FDI is a great achievement for IK and his PTI government...and their 4 years of Hard work. Kudos......The way IK is fulfilling his promises ( made from above those containers throughout between 2014-2017), is now setting example for rest of the world.... This is how you do governance ...IK's A true World Leader.

Soon Biden/Modi will be crying to get a phone call from him.....other premiers will form a beeline outside his house to get a glimpse of him.
1631174118747.jpeg
 

RealNapster

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Wow...I am speechless.....Congratulations......securing $100 Million of FDI is a great achievement for IK and his PTI government...and their 4 years of Hard work. Kudos......The way IK is fulfilling his promises ( made from above those containers throughout between 2014-2017), is now setting example for rest of the world.... This is how you do governance ...IK's A true World Leader.

Soon Biden/Modi will be crying to get a phone call from him.....other premiers will form a beeline outside his house to get a glimpse of him.

Are you done ? Okay now go upstairs and take your medicines.
 
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Areesh

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Wow...I am speechless.....Congratulations......securing $100 Million of FDI is a great achievement for IK and his PTI government...and their 4 years of Hard work. Kudos......The way IK is fulfilling his promises ( made from above those containers throughout between 2014-2017), is now setting example for rest of the world.... This is how you do governance ...IK's A true World Leader.

Soon Biden/Modi will be crying to get a phone call from him.....other premiers will form a beeline outside his house to get a glimpse of him.

I agree with you on this. Getting 100 million dollars investment is no achievement

Real achievement is abandoning your wife and running away for having "choti lulli" and then try to overcome that insecurity by conducting genocide of your own citizens who belong to a minority group to look macho
 

MH.Yang

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In fact, this is a good opportunity for Pakistan. Of course, $100 million should only be an experiment in the possibility of Toyota's investment in Pakistan.

In recent years, Toyota has been hoping to reduce production costs. Pakistan not only has relatively low labor cost, but also products made in Pakistan can enter the Chinese market without tariff.

Toyota is not a small company, and it does not do meaningless things. I think Pakistan should not ignore this opportunity.
 

Baz2020

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Toyota? Third class quality i can gurantee you that. No airbags no abs.

It will be in partnership with some local mafia group
 

Adonis

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I agree with you on this. Getting 100 million dollars investment is no achievement

Real achievement is abandoning your wife and running away for having "choti lulli" and then try to overcome that insecurity by conducting genocide of your own citizens who belong to a minority group to look macho
Mr. Elite...I did not understood the second part...but guess it is not a positive thing...Have some guts, please post in English.
 

Rafi

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Mr. Elite...I did not understood the second part...but guess it is not a positive thing...Have some guts, please post in English.

I know a lot of little injun bitches like yourself, the inferiority complex is literally pouring out of you.
 

mudas777

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Toyota? Third class quality i can gurantee you that. No airbags no abs.

It will be in partnership with some local mafia group

This is the weaknesses in our car safety sales laws not Toyota fault that they are allowed to sell cars without those essential safety tools.
Why we are so eager to adopt and accept Western values but when it comes down to something useful for our own safety we choose to ignore it.
 

MH.Yang

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With regard to attracting investment, the most important issue in Pakistan is security, not corruption. Eliminating terrorists is the most urgent need.

Corruption is not the most urgent problem to be solved. This problem is very common, corruption exists in Bangladesh, ASEAN, China, India and other countries. The difference lies only in the severity of corruption.
 

Adonis

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I know a lot of little injun bitches like yourself, the inferiority complex is literally pouring out of you.

Lol...you can't control your frustration in your comments, do not have credible argument to make on the subject, stooped down to level on calling names and abuse ...and I have inferiority complex?.....

Worthless souls like you can only be "Elite" on PDF..... enjoy the status and Thank Allah that you were at least considered of that worth (albeit falsely) by them.
 

Baz2020

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With regard to attracting investment, the most important issue in Pakistan is security, not corruption. Eliminating terrorists is the most urgent need.

Corruption is not the most urgent problem to be solved. This problem is very common, corruption exists in Bangladesh, ASEAN, China, India and other countries. The difference lies only in the severity of corruption.

corruption is at number 1. Were you born during nawaz sharif or zardaris rule? . I dont blame you if thats the case
 

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