Electric and Hybird Cars Will Available in Pakistan
Hyundai Motor Company has a plan to set up the car assembly plant in Pakistan in collaboration with Nishat Group. The Nishat Group’s chairman Mian Mansha has revealed that the South Korean car manufacturer company is planning to launch the electric and hybrid cars in Pakistan.
The Hyundai Motor Company is planning to start with the small vehicles in the country that could contend with the present (Japanese) assemblers already working in this market.
The Nishat Group’s chairman revealed that they are discussing with the assemblers to bring the electric and hybrid vehicles in the country. At first they will import the electric cars but later on they will start assembling them locally.
Investment in Project:
The chairman of Nishat Group Mian Mansha is investing $120m in the project and they will be 42 per cent stake holder in it, Millat Tractors holding 18 per cent while the Japanese firm 10 per cent. The remaining shareholding will be offloaded on the country’s stock market.
The car assembly plant will be set up in an industrial zone near Faisalabad.
Nishat Group is the country’s third major business group to have revealed plans of development a car assembly plant in partnership with a foreign carmaker (Hyundai).
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