Soon, Nishat Partners with Hyundai Motor Company with mutual consent would set up a car assembling plant in Pakistan. Nishat and Hyundai are looking forward to introduce an electric and hybrid cars for first time in Pakistan. This project is under the process to be executed.
Soon this project would be completed and Pakistan’s affordable person would able to purchase an electric and hybrid cars in all big cities of Pakistan. This project installation has been located in an industrial area near to Faisalabad. Definitely each and every things formulation will take place in that set up near Faisalabad.
Nishat Group is going to invest its $120 Million in electric and hybrid cars project situated in Pakistan. This would be the highest ratio of capital from Nishat. The major part of the assets will be under the power of Nishat Group.
One quote said by Nishat Group’s chairman Mr. Mian Mansha. In the statement he said that
“The (South) Korean car maker wants to first start the assembly of small cars that could compete with the existing (Japanese) assemblers already operating in this market. We are discussing with them… trying to convince them to also bring electric and hybrid cars. I see (that) the future is in electric cars. We could import these cars in the beginning and later also start assembling them locally.”- Mian Mansha”
Other than Nishat Group another Pakistan’s most reputed and well known industry Millat Tractors had shown their interest to become a part of this partnership. Millat Tractor also looks a bright future in this joint venture of Nishat Group and Hyundai Group.
Millat is concened with this project for some sake that is the production of light trucks. This joint venture will be purely based on electric cars and hybrid cars. According to the resources we could find news that Nishat will be enjoying 42 percent share of this partnership, and Millat Tractors will posses 18 percent share in this partnership and Hyundai will hold 10 percent ownership from total.
Technology is being changed very fast so that’s why to be in the race in future concern it is very necessary to walk with the trend of globe. The same case was with the telecommunication industry, when there was no much use of mobile phones but day to day all technology changed in few years. We are attached with the technology in every activity of our life so that’s why to adopt technology for every industry and country is good for their economic development. By adopting new changes in technology one can beat other in international marketing and then that industry would be the global industry too.
Other than Nishat Group many other industries based on technology domain are in process to introduce their own cars. Other industry are also planning to set up plants of cars in Pakistan. As we can see that “Apple” would continue its business growth by launchings its own cars to become leaders in this race.
Finally it has been confirmed worldwide that Nishat Group, Millat Group and Hyundai limited would launch its own plant in Pakistan. This was confirmed at the time of report to the US highway regulator.