Hyundai after partnering up with a local conglomerate Nishat group has exuded the plan of assembling cars locally in Pakistan. They will be launching in March 2020 and Faisalabad Industrial Estate Development and Management Company (FIEDMC), which handles out all the operations carried out in a special economic zone of Faisalabad, will be the ones with whom they will be sharing their plans.
Chief Operating Officer (COO) of FIEDMC, Amir Saleemi has confirmed the news of Hyundai coming to Pakistan. He said in an interview “ 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 further added that the company will increase its production capacity to 22,000 within three years of launch.
Regarding the policy, the COO said, “The incentives and concessions offered under the auto policy have created a favorable environment.”
Hyundai has invested 150$ million in Pakistan. The company will launch its imported vehicles by the end of this year. It is expected to roll out, modern designed cars with better fuel economy and quality so that it can outperform other automakers.
Things are expected to be quite different by 2020 as globally known companies like KIA, Renault, and other Auto companies have also revealed plans of setting plants in Pakistan. It will definitely be a golden period for the Pakistani automobile industry.