The Pak Government has granted Category A Greenfield Investment status to the KA Hanteng Motors Company Pvt. Ltd.
The Greenfield status has been granted complying with the auto policy 2016-21. $50 million will be invested in the auto sector of Pakistan in collaboration with the Chinese company KA Hanteng Motors.
KA Hanteng will manufacture passenger vehicles and SUVs in Pakistan after it built its assembly plant. The assembly plant will have the capacity to manufacture 15,000 vehicles annually in Pakistan.
The agreement that was signed back in May 2018 also highlighted the transfer of technology and the production of vehicles both electric and hybrid. The conditions mentioned in the No. 2(9)/2013-LED-11 notification will be followed by KA Hanteng Motor. The notification is dated June, 2nd 2016.
Since the auto policy 2016-21 many automakers have set up assembly plants in Pakistan which indicates that the auto sector of the country is booming.