Toyota to invest USD129.3–147.7 bil. in launch of next-generation Corolla in Pakistan

Follows last month's launch of locally assembled Fortuner sport utility vehicle (SUV)

Indus Motor Company (IMC), Toyota's vehicle-producing joint-venture (JV) in Pakistan, will invest PKR7–8 billion (USD129.3-147.7 million) to upgrade their manufacturing facility for the launch of the next-generation Corolla in the country, reports The Pak Banker. IMC made initial announcements of the launch early this month. The Corolla is the best-selling car in Pakistan, with a dominant market share of over 70% in the 1,300cc-engine category. IMC manufactures different versions of Corolla with prices ranging between USD27,700 and USD33,240.