Back in September 2021, Indus Motor Company (IMC), the local manufacturer of Toyota vehicles in Pakistan, had announced its plans to start producing hybrid vehicles. The automobile giant had at the time stated that it would spend $100 million over the next three years in domestic production of hybrid electric vehicles (HEVs) in a notification sent to the Pakistan Stock Exchange (PSX) that month.
This had followed the government’s announcement in the Finance Act 2021 to relax a number of taxes and duties in order to promote the local manufacture of environmentally friendly cars in Pakistan.
The majority of assemblers, including Toyota, were either not accepting new bookings for CKD & CBU vehicles or were providing a complete refund as a result of the already reduced production of automobiles. The launch of many new cars had therefore been delayed due to the situation, which didn’t appear to be getting better in the near future.
Fast forward two years and the situation appears a bit different from 2021.
Toyota Indus Motor Company (IMC) confirmed during a recent financial briefing that the construction of the Hybrid Electric Vehicle (HEV) plant is in progress as per schedule.
According to the company, Toyota reported a profit of Rs. 1,331 million in Q2FY2023, a 72% cut from the same time last year. In addition, it noted that Toyota’s revenue had decreased 52% in Q2 FY 2023 compared to the same quarter in FY 2022.
Toyota claimed that the State Bank of Pakistan’s (SBP) restrictions on the import of completely knocked-down (CKD) kits are the main cause of the drop. The HEV assembly plant, according to the company, is on track, allowing the Corolla Cross to potentially make its debut this year.
Toyota Indus Motor Company (IMC) reiterated during a recent financial briefing that the construction of the Hybrid Electric Vehicle (HEV) plant is proceeding according to schedule.
Toyota reportedly recorded a profit of Rs. 1,331 million in Q2FY2023, a 72% drop from the same period the previous year. In addition, it stated that when compared to the same quarter in FY 2022, Toyota’s income fell by 52% in Q2 FY 2023.
The Toyota Corolla Cross Hybrid’s main structural and mechanical developments have been done, as per a reliable source privy to the latest automobile developments, with the company now focusing on the car’s fit and finish.
The manufacturer has begun work on the nameplates, badges, and fitments for the vehicle, he continued. The business is moving forward at full speed and intends to introduce the Corolla Cross in H1 2023, according to the source. However, the company hasn’t formally verified this claim.
Price of Locally Assembled Corolla
The CEO Ali Asghar Jamali estimates that the locally assembled Corolla Cross would cost between 5 million and 7 million Pakistani rupees. According to Jamali, the HEVs are the short-term solution before EVs because Pakistan presently lacks a well-developed infrastructure for EVs.
Jamali asserts that Pakistan could cut its reliance on foreign energy by up to 50% if all cars were converted to HEVs. The locally built Corolla Cross, a new Toyota EV, will compete with other SUVs on the market and be a wonderful addition to the local industry’s HEV segment if the price is between 5 and 7 million rupees. The Toyota HEV Corolla Cross will unquestionably rule this industry.
Here are the Toyota Corolla Cross specifications and features to apprise you of what the company has to offer.
Corolla Cross Features
The Corolla Hybrid is a new five-seat small crossover with measurements of 4460 x 1825 x 1620 mm and a 2640 mm wheelbase. Likewise, the car has a large fuel tank with a capacity of almost 36 liters and a minimum turning radius of the tyre: the body of 5.2:5.5 m. The vehicle has an intriguing shape and body in addition to having a 2ZR-FXE (Hybrid) engine with a 1798cc displacement and outstanding engine performance. The new Toyota Cross also features Power and ECO drive settings in addition to an effective 53kW engine motor power.
The new model also has some fantastic exterior and internal features. The two most distinctive and alluring hues for the model are red and silver. The vehicle also has 215/60 R17 tyres on alloy 17-inch wheels. Customers are drawn to features like windscreen wiper control for the front and back mirrors and Daytime Running Lamps (DRL) with LED curtains.
Moving on, the model’s interior places a focus on luxury and a great driving experience. The model’s elegance is further enhanced by its features, which include an 8″ entertainment system, moon roof, temperature control, and cruise control.
The Toyota Cross Hybrid also has some safety elements like Hill Start Assist, Electronic Brake Force Distribution (EBD), Brake Assist (BA), Vehicle Stability Control (VSC), and Anti-Lock Braking System (ABS). Airbags are also built into the car for the protection of the driver and passengers.
In short, the introduction of hybrid technology would not only give localization in Pakistan a new perspective, but it would also help Pakistan save money on foreign exchange and cut down on the cost of fuel imports. This bears similarity to how EV adoption in the local auto sector can significantly reduce carbon emissions and the effects of global warming. Moreover, the adoption of hybrid technology could enhance Pakistan in terms of currency savings and a decrease in the cost of fuel imports, as well as bringing a new dimension to the local industry.
Paradoxically, while the fuel prices have jumped exponentially in the last few months in Pakistan, it has not, in any way, dented automobile buffs’ capacity to buy ever-costly vehicles, including Toyota Corolla. The buyers’ indifference to the spiraling fuel costs also indicates that car manufacturers are least bothered about this key aspect, and will continue to produce expensive automobiles and reap massive
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