Together with leading Chinese automaker Chery Group, Ghandhara Nissan Limited (GNL) has decided to invest Rs2.4 billion in Pakistan’s auto market.
On Wednesday, GNL shared its business strategy with the Investment Board (BoI), including a Rs2.4 billion brownfield investment through a joint venture with the Chery Group to launch the new passenger cars in Pakistan.
Also present on the occasion were GNL Chief Operating Officer Muazzam Pervaiz Khan and BoI Secretary Fareena Mazhar.
The investment strategy involves different styles of passenger vehicles, ranging from hatchbacks to sedans, crossovers to SUVs, according to officials. In line with the government’s Electric Vehicle Policy implementation initiative, the company will launch its electric vehicle portfolio in the next two to three years, they added.
It should be noted that Chery Group is a leading Chinese automotive industry brand that has set up a full research and development framework with more than 11,000 patents and 3,200 dedicated R&D employees.
With 23 specialist modules covering vehicle and component durability, handling stability, NVH, safety and environmental adaptability, emissions, materials and other properties of test production and verification capabilities, Chery has over 2,600 pilot projects.
The BoI secretary appreciated the planned product line that would give investors value for money; provide Pakistani consumers with top-of-the-line safety features; and generate job opportunities for the masses.
In order to ensure a favorable business climate for companies, she told the team about various steps taken by the government, including incentives included in the upcoming Electric Vehicle Policy. She assured GNL of the facilitation of BoI for the effective execution of the venture as and when necessary.
Ghandhara Nissan is a well-known truck and bus manufacturer based in Karachi. In Pakistan, the firm assembles and produces Isuzu vehicles.
According to reports, Chery SUVs will be manufactured in Pakistan by Nissan. There are a range of luxury SUVs in the Chinese automaker, with Tiggo 8 the most anticipated to join the Pakistani automobile market.