ISLAMABAD – The Toyota Indus Motors Company Pakistan has announced to invest $100 million in the country for local production of hybrid electric vehicles.
A delegation of the company called on Prime Minister Imran Khan. The meeting was attended by Vice Chairman Shinji Yanagi and Chief Executive Officer (CEO) Ali Asghar Jamali.
The meeting was also attended by Finance Minister Shaukat Fayyaz Tareen, Industries and Production Minister Makhdoom Khusro Bakhtiar, Energy Minister Muhammad Hamad Azhar and concerned senior officials.
During the meeting, the premier termed the decision of Toyota Motors a significant step in combating climate change and creating vast employment opportunities in the country.
He directed the authorities concerned to get maximum share for Pakistan in the international auto export market.
He appreciated the cooperation of Toyota Motors in bringing down the prices of vehicles. Stressing on the importance of technology transfer, the Prime Minister said that the government would extend all possible assistance for the production of quality vehicles at reasonable prices.
Multiple initiatives have been taken by the incumbent government to promote manufacturing as well as the adoption of EVs in country in order to develop pollution free environment and reduced vehicle prices.