The Board of Directors of Indus Motor Company Limited (PSX: INDU) has given the green light for an investment of approximately Rs. 3 billion. The company disclosed to the main stock exchange on Thursday that this investment aims to boost the localization of parts and components for existing vehicles.
The initiative aligns with the company’s broader strategy to enhance local manufacturing, thereby reducing foreign exchange outflows and supporting the growth of the domestic auto industry, as stated in the stock filing.
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The investment will cover expenses related to plant and machinery, molds, dies, equipment, and other necessary costs for localizing parts and components of various existing vehicles. The company anticipates completing this investment by the third quarter of calendar year 2025.
In addition to assembling and marketing Toyota vehicles, Indus Motor Company Limited also serves as the exclusive distributor of Toyota and holds licenses for the assembly, progressive manufacturing, and marketing of these vehicles in Pakistan.