Al-Haj Group and Hyundai Motor Company are collaborating on a certain project. The project is based on developing various truck variants and modern equipped buses in Pakistan. The investment anticipated in this mega project is around Rs.4 billion.
The production phase would be started within next 12 months. The company has already worked upon its pre-production. They have purchased land around 30 acres in outskirts of Karachi.
The initial investment of Rs1.5 billion would be done only by Al-Haj Hyundai (Pvt) Limited. They will use their own capital to fund the project. In the second stage, which is expected to start in 2019, Hyundai might invest as well. If things go as planned, the partnership would bring better and luxurious buses and trucks for the people.
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Al-Haj Group has been in the market since 1960. Therefore it has a very solid position. As per CEO of Al-Haj Hyundai, Bilal Khan Afridi, Hyundai had chosen them over other companies because they have a long standing experience in developing heavy vehicles. He also said that as CPEC project start in Pakistan, simultaneously their project on the growth of heavy vehicles would also gain speed.
The first production as per planned is introduction of heavy duty truck Hyundai XCIENT, also having Hyundai UNIVERSE luxury buses that would commute within the city. Then medium and light duty trucks by Hyundai are also expected.
It is after almost seven years that sales of trucks and buses have recovered. The improvement in security issues and stability in the country has paved way for this recovery. In the year 2015-16 Pakistan produced 6,736 units of trucks and buses which is a record for the country.
Image via: CarSpiritPK