Hyundai Nishat is ready to start vehicle production in Pakistan by the end of 2019. The auto company will begin the commercial production of vehicles from its assembly plant located in Faisalabad.
Mian Mansha the founder and CEO of Nishat Group disclosed the future prospects of the Hyundai Nishat collaboration. Mansha said that in the first year of its production, Hyundai Nishat will produce 7000 Hyundai cars.
Adding, “We have plans to increase our production to 30,000 cars in the forthcoming five years.”
Furthermore Hyundai has been testing its hybrid vehicles on Pakistani roads. The cars were spotted parked at the Emporium Mall that is Nishat group-owned. Mian Mansha not just confirmed but also revealed that Hyundai Nishat is planning to launch hybrid cars within next two months.
One of the leading industrial conglomerate in Pakistan Nishat Group collaborated with the trading house in Japan Sojitz Corporation and biggest tractor manufacturing company of Pakistan Millat Tractors Limited.
Recently KIA Motors also made an announcement that it will start the production of its vehicles in Pakistan by September 2019. As new automakers will start local vehicle production in Pakistan, it will increase competition and provide options to the public.