19 Jun 2023 – The figure of $100 mn has apparently been published in major newspapers, and screenshotted in this PakWheels article:- https://www.pakwheels.com/blog/fake-news-no-toyota-pakistan-is-not-going-anywhere/

On 02 Jun 2023 they have shown locally assembled Corolla Cross to the PM! https://www.pakwheels.com/blog/imc-showed-first-locally-made-corolla-cross-to-pm-shehbaz/ but there’s no indication when it will be launched and go into mass assembling.

So the target date will be 08 Sep 2021 + 3 years = 08 Sep 2024.

25 May 2022 https://carspiritpk.com/imc-to-launch-local-assembled-toyota-corolla-cross-in-2023/ “has already invested $100 million to produce HEVs in Pakistan” so the investment they had to make in 36 months already complete in 8.5 months?

Do the investment figures tally with their quarterly/annual financial declarations which appear here: https://dps.psx.com.pk/company/INDU

If their investment was already complete by 25 May 2022, why haven’t they introduced any hybrid till 15 Feb 2023 … another 8.5 months later.

We need to learn the difference:

“Made in Pakistan” means most of the parts are made locally with the ‘imported-parts-per-car’ brought down to the minimum possible. That has NOT happened at all in Pakistan. No vehicle assembler can make that claim. Not even the Japanese who have been “gracing” [read: hijacking/holding hostage] our roads for the past 3 decades.

“Assembled in Pakistan” is the correct term. Whatever parts that are locally produced do not cover the bulk of the costs of the car. That is why the prices keep going up along with the rising dollar. The only scenario where local assembly should be/can be accepted is if the local assembled vehicles are sent to other markets for sale as exports from Pakistan. Again, the old three have botched this up for the last three decades. Even among the new comers, companies like Proton and Changan, who made big claims about making Pakistan their export hub, have not delivered. So far, that is just so much hot air.

So my humble request. Please do not bring any new vehicles for local assembly. In the current scenario, and going forward, we cannot afford it as a nation. Local assembly for local sale only, does not bring anything to the country. Sure, they will support local jobs but in the long run they cost the nation. They are an expense on the dollar reserves. These local jobs and sales do not translate into any benefits to the nation in foreign revenue generation. They only increase the burden on the country’s expense bill.

Unless these companies seriously ramp up assembly for export or seriously give localization full attention for cost reduction and also (again) for export of both CUB vehicles and parts, this addition to the local assembled vehicle fleet is not in our best interest.