These days many car manufacturer companies are taking interest in Pakistan’s Automobile market and surprisingly enough a lot of them are also planning on launching their vehicles in Pakistan. Last month, Hyundai finally beamed the green signal and announced to be launching in Pakistan. Hyundai has chosen to start a joint venture with Nishat group to bring the company’s cars in the market. However, officially no precept regarding this joint venture has yet been announced.
The speculation was made after the website of Hyundai-Nishat came into being with a poster of ” Coming soon “. According to the sources, Hyundai cars are planning to import the parts from abroad, whereas with the help of Nishat group to assembling them in Pakistan. These cars will be the first locally produced Hybrid cars in the country. But whatever it may be, it’s pretty apparent that Hyundai is now in the business. As we in our previous blog posts mentioned that the future is in the hands of Hybrid and Electric cars, Hyundai also believes in that and therefore devotes its time in both Hybrid and Electric, however, to enthuse the people and take over the market which is full of reconditioned Japanese imported cars.
The four cars which have been displayed in the “coming soon” poster are Sonata, Elantra, Santa Fe and Tucson and coincidently, Hyundai Tucson was also spotted in an unofficial event in Karachi which also confirms that the news will sooner or later be becoming official. The business tycoon Mian Mansha said “The South Korean car maker wants to first start the assembly of small cars that could compete with the existing ones already operating in the market. We are discussing with them, trying to convince them to ask to bring electric and hybrid cars. I see the future is in electric cars. We could import these cars in the beginning and later also start assembling them locally.” Mian Mansha is investing $120 million for this particular project and as per sources, he has tight knots to acquire land in Islamabad for it. And out of 100, 42% of the stake in the company will be owned by Nishat group.
This news however might be threatening for the Japanese car manufacturing companies as well as Corollas and Honda as they are considered to be the most bought cars in the country until this point in time but yet again everything depends on the price and the features of the cars that will be introduced by Hyundai