KARACHI: World leading Auto giant Hyundai launches new HYBRID Car Model inPakistan, Media report has revealed.
Hyundai Nishat Motor (Private) Limited (HNMPL) on Tuesday unveiled its‘Ioniq’ hybrid car while inaugurating its digital showroom at the EmeraldTower in Karachi.
The digital showroom has been developed under the ‘city store’ concept,supplementing traditional showrooms with a convenient, fully digitalisedretail experience.
HNMPL COO Tatsuya Sato said that he compares Pakistan to what Indonesiaused to be – having great potential for the industry.
“The things which enticed us to come to Pakistan was its population,age-group (youth) and the passion for cars,” Sato told reporters.
However, he said that the auto industry has been struggling at the hands ofvolatile currency. “But Pakistan has huge potential…even to export cars.”
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HNMPL is a joint venture with an investment of $150 million – 60pc comingfrom Pakistan partners and the remaining 40pc from the Japanese partner.
The cars HNMPL is selling at the moment are all imported, completely builtunits (CBUs) and the company would start manufacturing in January next withH1 100 Trucks having 20pc level of localisation, which would reach up to45pc in five years.
Sato said that Hyundai, as per its international vision, would also startelectrification of its cars as soon as the environment is conducive. Heurged the government to encourage the use of electric cars and ensureavailability of electric stations.
