Karachi, Indus Motor Company Limited informed Pakistan Stock Exchange that the Company has evaluated and plans to invest an estimate aggregate amount of US $100 million, over the period of next three years, for the local production of Hybrid Electric Vehicle (HEV) in Pakistan. The announced investment shall be made towards plant upgradation and extension, localization of parts or components and production preparation or assembling of the first Hybrid Electric Vehicle, by the Company at its plant in port Qasim Authority, Karachi.
Indus Motor Company Limited was incorporated in Pakistan as a public limited company in December 1989 and started commercial production in May 1989. The Company was formed in accordance with the terms of a Joint Venture agreement concluded amongst certain House of Habib companies, Toyota Motor Corporation and Toyota Tsusho Corporation for the purposes of assembling, progressive manufacturing and marketing of Toyota vehicles. The Company also acts as the sole distributor of Toyota and Daihatsu vehicles in Pakistan and has a license for assembling, progressive manufacturing and marketing of these vehicles in Pakistan.
Indus Motor Company Limited’s manufacturing facility and offices are located at a 107 acre site in Port Qasim, Karachi. The product is delivered to end customers nationwide through a strong network of 50 independent 3S Dealerships spread across the country.
The total number of shares of the Company are 78,600,000. The Earnings per shares is 64.66 in 2020 which was 174.49 in 2019. The profit after taxation in 2020 is 5,082,027,000 which was 13,714,975,000 in 2019.