Hyundai cars that are locally assembled in Pakistan will be hitting roads by March 2020. Plant i.e. being set up in Faisalabad on 66 acres of land, is the joint venture of Hyundai and Nishat Group in Japanese dominated auto sector of Pakistan.
The supervision of special economic zone, where the plant is located is with Faisalabad Industrial Estate Development and Management Company (FIEDMC) and in this regard, Hyundai, the South Korean carmaker has shared its operational plan with the supervising body.
Aamir Saleemi COO of FIEDMC said that the company plans to produce 7000 units in the first year.
Many vehicle assemblers and manufacturers have shown interest in Pakistan. Among others is Renault the French carmaker and South Korea’s Kia.
A five-year new auto policy has been approved by the government, which has offered an incentive to new entrants to take a benefit from large market demand.
This influx of industrialization in Pakistan is set to see the shift from Japanese dominated auto industry as numerous cars will be rolled out by 2020, said Saleemi.
Surveys of locations have already been started and setting up of showrooms across Pakistan is already started.
In three years, the company has planned to increase its production to 22000 units.
