On February 22, Indus Motor Company, the manufacturer of Toyota vehicles in Pakistan announced that its board has approved an investment of around PKR 3 billion for additional localization of parts and components of various existing vehicles.
This comes as a part of its plan to increase localization,
reduce the outflow of foreign exchange and promote the local auto industry.
The investment would be made towards expenditure in plants and machinery, molds, dies, equipment, and related expenses of localization of parts and components, etc. The investment is slated to be completed by Q3 FY 2025.