Toyota Indus Motors Starts Export of Certain Vehicles to Affiliated Companies

Indus Motor Company Limited (PSX: INDU) has commenced an export activity of certain vehicles to other Toyota-affiliated companies, the carmaker informed the main bourse on Tuesday. “To commemorate this milestone, IMC is organizing an export ceremony. This event not only highlights our dedication to expanding our business horizons but also underscores our commitment to contributing to Pakistan’s presence in the international market,” it said in a stock filing. While this initiative marks a significant step for IMC, it is important to note that, at this initial stage, the financial benefits from this export activity are minimal. “The impact on our overall business remains insignificant and immaterial. Despite this, we are proud to take this pioneering step and pave the way for future export opportunities from Pakistan,” the filing added. INDU was formed amongst certain House of Habib companies, Toyota Motor Corporation, and Toyota Tsusho Corporation to assemble, progressive manufacturing, and marketing 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.