In collaboration with Daido Kogyo Company Japan, Atlas Autos is ready to invest $20 million in Pakistan to build an assembly plant in Karachi for chain drives and CAM chains for Honda Motorcycles.
Atlas Autos has just inaugurated DID assembly plant in Karachi, the company is now further expanding its assembly plants by creating a joint venture with the Japanese company.
CEO Atlas Autos, Sohail Ahmed and Vice President Kogyo, Hirofumi Araya signed a memorandum of understanding (MoU) for evaluating the project to establish a new joint venture in Pakistan.
The company has plans to invest $20 million over the next 3 years in Pakistan aimed at producing Honda products locally; the company will use the expertise of Atlas group and Daido’s technology in order to produce motorcycle chains.
This project will definitely create more jobs in Pakistan, reduce the import bills and produce less expensive parts in Pakistan creating a win-win situation for Pakistan.
The inauguration ceremony was attended by key personnel including Atlas Group President Amir H Shirazi, Daido Vice President, Hirofumi Araya and Embassy of Japan Counsellor for Economic Affairs, Yuji Tokita.
Honda motorcycles are already localized but Pakistan has to import chains and carburetors, now after this successful development, Honda Motorcycles would be localized further only leaving carburetors to be imported.
Atlas Honda is the market leader in motorcycles in Pakistan which two most popular models Honda CG125 and Honda CD70. Atlas Honda has sold over 1.15 million bikes last financial year.
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