Since the new Automobile Policy presented by Government earlier last year, many companies have laid eyes on the industry to set up their production plants in Pakistan. This new policy allows many benefits to the new player in the market in terms of reduced taxes and low import cost of parts.
ast forward to today the new policy has surely paid off. The agreement between Nishat Motor and Hyundai Motor Company (Korea) signed earlier in 2017 turns out to be a success as Hyundai Nishat Motor’s new production plant is set to be inaugurated on 20th December 2017 in Faisalabad; marking a new era in the history of the automobile industry in Pakistan. The company revealed the plans during the filing at Karachi stock exchange.
As of now, Hyundai Nishat plans to produce a small passenger car along with a 1-ton commercial vehicle. Whereas more vehicle will be added to the fleet later on. Sources suggest that investment will range from 400-500 million dollars.
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