The South Korean company Hyundai has partnered with Nishat Group to set up the 66-acre assembly plant in Faisalabad. After setting up its plant Hyundai plans to launch locally manufactured cars in Pakistan by March 2020.
Recently Hyundai announced the launch date of its vehicles, sharing its plan with the Faisalabad Industrial Estate Development and Management Company (FIEDMC). FIEDMC control the activities that go on in the special economic zone of Faisalabad.
Chief Operating Officer (COO) FIEDMC, Aamir Saleemi confirmed that Hyundai is ready to launch its vehicles by March 2020.
He said, “The Japanese-dominated industry is set to see a transformation. Hyundai cars will roll out in March 2020. The company plans to produce 7,000 units in its first year.”
Saleemi said that Hyundai will raise the raise the production capacity to 22,000 units in the next three years after its launch in 2020.
Adding, “The incentives and concessions offered under the auto policy have created a favorable environment.”
Other companies are also starting operations in Pakistan including Kia and Renault. The auto companies are establishing assembly plants in the country to launch vehicles in upcoming years.
Till now Hyundai has invested $150 million in Pakistan. Saleemi revealed that Hyundai will introduce new technology to produce fuel-efficient vehicles in Pakistan. Hybrid electric cars are not just fuel efficient, they are also eco-friendly. If they are introduced in Pakistan it will be amazing for the auto sector of the country.
Previously we informed our readers that Hyundai Tucson car was spotted in Lahore on Canal Road. But chances are that Hyundai will launch imported vehicles in Pakistan by the end of 2018. It was expected that Hyundai will launch four new cars in Pakistan that are the Hyundai Elantra, Hyundai Tucson (Crossover), Hyundai Verna, and Hyundai Creta (Crossover).