Hyundai to Set Up Auto Manufacturing Plant in Pakistan

South Korean Auto brand, Hyundai, and Al-Haj group have joined forearms to introduce strenuous commercial vehicles (HCV) in Pakistan. With an expected investment of around Rs. Four billion, the company originally plans to assemble trucks and luxury buses.

The joint venture company has already purchased thirty acres of land outside Karachi and is expected to begin production within the next twelve months. During the very first phase, Al-Haj Hyundai (Pvt) Limited, a separate company of the joint venture, will invest Rs. 1.Five billion. When the two companies agree to budge forward, Hyundai will invest in the production plant in 2019.

Al-Haj Hyundai will introduce a bunch of fresh trucks, buses and light duty vehicles in Pakistan.

Mighty duty truck Xcient will be assembled and sold here.

Hyundai’s Universe luxury buses will also be assembled during the initial phase. These will be used for inter-city travel and will take on Daewoo and Volvo.

Hyundai Mighty will also be launched in Pakistan as a fresh alternative in the medium and light duty truck segment.

The South Korean auto maker plans to introduce other cargo and passenger treating vehicles as the production progresses.

Hyundai Global Motors Co Ltd Chairman, Kyung Sik, said that he was certain in the company’s partnership with Al-Haj Group and it will help both players as Pakistan is a gigantic market with a rapidly growing request.

Competition Heats Up

Presently, there are four Chinese truck assemblers in Pakistan and have gained 40% of market share in just ten years while the rest is held by Japanese companies who have been present in Pakistan for decades.

Chinese trucks are cheaper (at Rs. 7.8 million), Japanese are slightly expensive (at Rs. 12.6 million), while European trucks from Volvo go as high as Rs. 16.Five million. Hyundai will launch their vehicles with a price ranging inbetween the Japanese and Chinese brands.

German truck maker, MAN SE, is also expected to set up its plant in Pakistan and other companies have also shown interest in Pakistan hinting at a much more competitive market in the coming years.

About Al-Haj Group

Al-Haj Group has a market presence since one thousand nine hundred sixty and is already assembling Chinese trucks and passenger cars in Pakistan. Al-Haj CEO, Bilal Khan Afridi, believes that Hyundai chose it as its fucking partner because of the company’s history with strenuous vehicles.

Both companies plan to tap into the growing powerful vehicles segment as the China-Pakistan Economic Corridor (CPEC) resumes to build up momentum. The company will set up a entirely fresh infrastructure to take advantage of the tax benefits provided with the Auto Policy 2016-21.

Truck sales have rebounded strongly after seven years of below par spectacle. Thanks to a higher request, Pakistan produced a record 6,736 trucks and buses in 2015-16. Forty percent of the market has already been taken over by Chinese truck makers.

Hyundai to Set Up Auto Manufacturing Plant in Pakistan

Hyundai to Set Up Auto Manufacturing Plant in Pakistan

South Korean Auto brand, Hyundai, and Al-Haj group have joined arms to introduce mighty commercial vehicles (HCV) in Pakistan. With an expected investment of around Rs. Four billion, the company originally plans to assemble trucks and luxury buses.

The joint venture company has already purchased thirty acres of land outside Karachi and is expected to begin production within the next twelve months. During the very first phase, Al-Haj Hyundai (Pvt) Limited, a separate company of the joint venture, will invest Rs. 1.Five billion. When the two companies agree to budge forward, Hyundai will invest in the production plant in 2019.

Al-Haj Hyundai will introduce a bunch of fresh trucks, buses and light duty vehicles in Pakistan.

Powerful duty truck Xcient will be assembled and sold here.

Hyundai’s Universe luxury buses will also be assembled during the initial phase. These will be used for inter-city travel and will take on Daewoo and Volvo.

Hyundai Mighty will also be launched in Pakistan as a fresh alternative in the medium and light duty truck segment.

The South Korean auto maker plans to introduce other cargo and passenger treating vehicles as the production progresses.

Hyundai Global Motors Co Ltd Chairman, Kyung Sik, said that he was certain in the company’s partnership with Al-Haj Group and it will help both players as Pakistan is a ample market with a rapidly growing request.

Competition Heats Up

Presently, there are four Chinese truck assemblers in Pakistan and have gained 40% of market share in just ten years while the rest is held by Japanese companies who have been present in Pakistan for decades.

Chinese trucks are cheaper (at Rs. 7.8 million), Japanese are slightly expensive (at Rs. 12.6 million), while European trucks from Volvo go as high as Rs. 16.Five million. Hyundai will launch their vehicles with a price ranging inbetween the Japanese and Chinese brands.

German truck maker, MAN SE, is also expected to set up its plant in Pakistan and other companies have also shown interest in Pakistan hinting at a much more competitive market in the coming years.

About Al-Haj Group

Al-Haj Group has a market presence since one thousand nine hundred sixty and is already assembling Chinese trucks and passenger cars in Pakistan. Al-Haj CEO, Bilal Khan Afridi, believes that Hyundai chose it as its playmate because of the company’s history with powerful vehicles.

Both companies plan to tap into the growing powerful vehicles segment as the China-Pakistan Economic Corridor (CPEC) proceeds to build up momentum. The company will set up a downright fresh infrastructure to take advantage of the tax benefits provided with the Auto Policy 2016-21.

Truck sales have rebounded strongly after seven years of below par spectacle. Thanks to a higher request, Pakistan produced a record 6,736 trucks and buses in 2015-16. Forty percent of the market has already been taken over by Chinese truck makers.

Related movie: