ISLAMABAD – Malaysian automobile giant Proton to assemble and distributeelectric cars in Pakistan.

The agreement signing ceremony between Al Hajj Motors and Proton Motorstool place at later headquarter in Kuala Lumpur.

The car costs around 1.1 million in Malaysia and the tentative price inPakistan to range in between 1.5 to 2 million.

The deal is expected to bring in an investment of $200-300 million.

According to the agreement, Al-Haj Group will exclusively sell and assemblesedans, crossovers, SUVs, and hatchbacks of the Malaysian automaker in thecountry, reported PakWheelslink.

This joint venture will indeed diversify the local market and Al-Haj’svehicle lineup as well.

Al-Haj group is currently selling FAW and Hyundai heavy duty vehicles inthe country, while its FAW V2 hatchback is acquiring market space at asteady pace. The company reportedly has also purchased a land in Karachi tobuild a manufacturing plant dedicated for Proton vehicles.

It is not yet confirmed that the company, at the initial stage, willdirectly assemble Proton cars in Pakistan or import CBUs (Complete BuildUnit).

This will be the first time electric cars will enter the Pakistani marketwhich bodes well for the country in terms of the competition in the automarket as well as from the eco-friendliness point of view.

One of Proton’s most popular cars is Iriz which starts at around Rs. 1.1million in Malaysia. It is expected that an Iriz EV variant will belaunched in Pakistan when the company begins its operations in the country.

Previously, the Royal Automobiles sold Proton vehicles in Pakistan.

Proton is a Malaysia-based automobile company and was established in 1983as the sole national badged car company until the advent of Perodua in 1993.