LAHORE: Business tycoon Mian Mansha has unveiled a mega business venture inPakistan.
He has revealed the Hyundai-Nishat plant will likely commence productionof hybrid cars by the end of this year.
In an interview to a local publication, Mian Mansha, who is the owner ofMuslim Commercial Bank (MCB) and several other conglomerates acrossPakistan shared its Hyundai-Nishat venture will roll out 7,000 cars at thestart and increase it up to 30,000 cars in the forthcoming five years.
He revealed hybrid vehicles are already here for trial testing and therewas a reasonable demand for them and will be available for sale within thenext two months.
Mr Mansha highlighted that technology was advancing rapidly in theautomobile sector and in future mobility was being heralded to be fueledthrough hydrogen.
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The business tycoon said hydrogen cars are already being tested in Japanand South Korea and the latter is investing billions to establish itshydrogen fuel cell vehicle ecosystem.
According to Mr Mansha, Pakistan needs to be ready for this revolution.
In November, Meezan Bank, Pakistan’s largest Islamic bank and HyundaiNishat Motor (Private) Limited – a joint venture among three leadinginternational business; Nishat Group, Sojitz Corporation (Japan) and MillatTractors Ltd., have recently signed an agreement for an Rs5.66 billionIslamic finance facility.
