Toyota Indus Motor Company (IMC) reaffirmed during a recent financial conference that the development of the Hybrid Electric Vehicle (HEV) factory is proceeding according to schedule.
According to the firm, Toyota reported a profit of Rs. 1,331 million in Q2FY2023, a 72% decrease from the same period last year. In addition, it noted that Toyota’s sales 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) limitations on the import of fully knocked-down (CKD) kits are the main cause of the reduction. The HEV assembly factory, according to the corporation, is on pace, thus the Corolla Cross could really make its premiere this year.
The Toyota Corolla Cross Hybrid’s primary structural and mechanical innovations are finished, a dependable source with knowledge of the situation told ProPakistani in December, and the business is now focusing on the car’s fit and finish.
The company has begun work on the nameplates, emblems, and fitments for the vehicle, he continued. The company is moving forward at full speed and intends to introduce the Corolla Cross in H1 2023, according to the source. But, the business hasn’t formally verified this assertion.