A news has been circulating on social media for the last couple of days, quoting a tweet. The said tweet by a “stock trader” and “technical analyst” claimed that Toyota Pakistan is leaving the country. “Sources Claim That Toyota Indus Motors is set to permanently Shutdown their Plant from Pakistan and leave Pakistan permanently,” Asad Nasir tweeted
🚨 BREAKING NEWS :-
Sources Claim That Toyota Indus Motors is set to permanently Shutdown their Plant from Pakistan and leave Pakistan permanently.
— Asad Nasir (@asadnasir2000) June 17, 2023
The tweet has got some traction, especially in the context of other companies like Shell International leaving Pakistan. And such news does increase some confusion and restlessness among the market forces and consumers. So, to confirm, PakWheels.com contacted Toyota Pakistan to know their point of view.
Toyota Pakistan Statement
Commenting on this, Toyota Pakistan’s official called it fake news and a rumor. “How is it possible as Indus Motor Company (IMC) has invested $100million in the development of hybrid cars in Pakistan,” the official said.
Meanwhile, according to the sources, Toyota is not adhering to fake news. The car assembler has established hybrid plants in Pakistan, and as per sources, production of Corolla Cross is started, so it doesn’t make any sense that company will leave the country after such heavy investment.
Toyota Pakistan also published an Ad in today’s newspapers about reducing carbon footprints in Pakistan, enough for people to tell that IMC is not going anywhere.
Through the Ad, the company expressed gratitude and appreciation to the government of Pakistan for sustaining the AIDEPD 2021-2026 policy initiatives for bringing Hybrid Electric Vehicles. IMC has invested over US$100 million to manufacture the first Made in Pakistan, Hybrid Electric Vehicle (HEV), with the highest level of localization,” the Ad read.
So, it is confirmed that this news is totally false, and IMC is not going anywhere.
What is your take on such rumors of Toyota Pakistan leaving the country? Please share your thoughts with us in the comments section.
