Indus Motor Company Limited has announced that based on the incentives provided against certain taxes and duties as announced by the Government of Pakistan through Finance Act, 2021 and subsequent SROs, the Company has evaluated and plans to invest an estimated aggregate amount of US $100 million, over the period of next 3 years, for the local production of Hybrid Electric Vehicle (HEV) in Pakistan, according to a notification of the company to PSX today.

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.