- Web Desk
- 17 Minutes ago
Another locally-made Hybrid Electric Vehicle to launch in Pakistan soon
- Web Desk
- Nov 09, 2023
WEB DESK: The Toyota car assembler in Pakistan has announced plans to launch the locally-made Corolla Hybrid Electric Vehicle (HEV) by December 2023 as part of a $100 million investment to cut costs and emissions.
The company’s CEO made the announcement on Wednesday, underscoring the significance of Toyota’s investment in HEV production in Pakistan.
He also highlighted the potential benefits of the investment, including reduced import costs, annual savings of $37 million, and a more sustainable and environmentally friendly future for the country’s automotive sector.
The automaker also expressed grave concerns about the surge in prices for locally manufactured cars, attributed to high taxation, inflation, the import of used cars, and currency instability.
The launch of the locally-made Corolla HEV is a pivotal moment in Pakistan’s automotive sector, charting a path towards a more sustainable and environmentally friendly future.
It also aligns seamlessly with the United Nations’ Sustainable Development Goals, with a specific focus on addressing climate change concerns.
The introduction of HEVs promises a reduction in emissions, the creation of job opportunities, and an enhanced potential for exports.