ISLAMABAD – Mian Mansha, CEO of international conglomerate Nishat Group,has confirmed that the joint venture of Hyundai-Nishat will start vehicleproduction in Pakistan by the end of 2019 or at the start of 2020.
While talking to a local media outlet, Mansha also said that themanufacturing plant is under construction as of now and will be completedin next couple of months.
The partnership between two brands is under the name of Hyundai NishatMotor Private Limited (HNMPL), which has been awarded Greenfield investmentproject status.
For reference, the Greenfield project is defined as “installation of newand independent automotive assembly and manufacturing facilities by aninvestor for the production of vehicles of make not already beingmanufactured in Pakistan”. ‘Make’ is defined as any vehicle of whatevervariant produced by the same manufacturer.
Additionally, Mansha also added:
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In the initial phase, up to 7,000 vehicles will be produced and theproduction capacity will increased to 30,000 in the next five years.
The business tycoon asserted that the company has also imported a number ofHyundai hybrid vehicles in Pakistan for testing purposes. The hybridvehicles will be up for sale in the next two months or so.
Mansha lastly claimed that he is planning on introducing hydrogen-poweredvehicles in Pakistan through the partnership as well.
