Indus Motors Announces $100 million Investment in Hybrid Vehicles

Indus Motors is soon to develop the first local hybrid electric vehicle, announcing a $100 million dollar investment for the task.

The current government’s auto policy has at last begun to show significant results.

According to reports, Toyota Indus Motors, a subsidiary of Toyota, has announced a $100 million investment for hybrid electric vehicles in Pakistan under the Finance Act 2021, which was based on incentives in taxes and duties. The funds will be used to locally produce electric hybrid vehicles.

Indus Motors said that investment is for upgrading, expansion, and production of vehicles and the company will soon develop its first local model.

Special Assistant to the Prime Minister Shahbaz Gill said in a post on social networking site Twitter that the fruits of the current government’s auto policy are finally showing. Toyota Indus will invest $100 million in producing electric hybrid cars, which will also create new employment opportunities, this investment will save fuel and foreign exchange spent on fossil fuels

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