FAISALABAD – Hyundai Nishat Motor has announced to launch its locallyassembled vehicles by March 2020.
South Korean auto manufacturer Hyundai, which is setting up a plant inFaisalabad spread across 66 acres, is partnering with local firm NishatGroup to venture into Pakistan’s increasing but Japanese-dominated autosector.
According to the company’s operational plans that it shared with FaisalabadIndustrial Estate Development and Management Company.
Faisalabad Industrial Estate Development and Management Company (FIEDMC),is overseeing the industrial zone where Hyundai’s plant is being set up.
Chief Operating Officer (COO) FIEDMC, Aamir Saleemi confirmed that Hyundaiis ready to launch its vehicles by March 2020.
“The Japanese-dominated industry is set to see a transformation. Hyundaicars will roll out in March 2020. The company plans to produce 7,000 unitsin its first year,” said Aamir Saleemi.
The company has invested $150 million in Pakistan. Saleemi revealed thatHyundai will introduce new technology to produce fuel-efficient vehicles inPakistan. Hybrid electric cars are not just fuel efficient, they are alsoeco-friendly. If they are introduced in Pakistan it will be amazing for theauto sector of the country.
The auto development policy 2016-21 has encouraged foreign automakers toset up their manufacturing business in Pakistan.
Recently another South Korean automaker Kia with collaboration with LuckyCement had launched Kia K2700 and Grand Carnival and is planning to bringmore vehicles from its lineup.