Al-Futtaim Group Going To Invest $230 Million in Renault Pakistan - Insight Trending

Al-Futtaim Group Going To Invest $230 Million in Renault Pakistan

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Al-Futtaim Group Going To  Invest $230 Million in Renault Pakistan

The United Arab Emirates (UAE) combination, Al-Futtaim Group, is putting $230 million in the vehicle division of Pakistan through a joint endeavor with Renault. 

Innovatively expanded, Al Futtaim-Renault autos will hit the streets in 2020 as Renault has effectively obtained 54 sections of land arrive in the nation's greatest modern zone, Faisalabad Industrial Estate Development and Management Company (FIEDMC). 

The Auto Development Policy (ADP) 2016-21 has ended up being very lucrative for Pakistan, with upwards of 12 auto producers having contributed $746 million up until now. 2 organizations have become Brown Field venture status, where an organization buys or rents a current office for another generation movement. 10 organizations have been granted Green Field venture status which enables them to start their activities in the neighborhood advertise from the beginning.

Ever since the announcement of the ADP, Pakistani market has gained the following new players which have shown their interest. The following investments have been made:
  • Regal Automobile Industries with DFSK Motor – $10.71 million
  • United Motors (Pvt) Limited with Yangste Motor Group and Luoyang Dahe New Energy Vehicle – $19.05 million
  • Khalid Mushtaq Motors (Pvt) Ltd with Changan Kuayua Automobiles – $3.50 million
  • Kia Motors with Kia Lucky Motors Pakistan Ltd – $190 million
  • Hyundai Motors with Hyundai Nishat Motors (Pvt) Limited – $163million
  • Changsha Foton Vehicle Technology with Foton JW Auto Park (Pvt) Ltd – $11.45 million
  • BAIC International Development Company with Sazgar Engineering Works Ltd – $31.01 million
  • Changan International Cooperation with Chongqing Changan Automobile, Master Motors Ltd and IVECO – $101.52 million
  • Chongqing Lifan Automobile with Pak China Motors – $24.25 million
  • Mianyang Huarui Automotive, T Dev Group, Chongqing Big S with Topsun Motors and Engineering Services – $5.43
  • Ssang, Kia and Kolao Group with Dewan Farooq Motors – $145 million
  • Nissan Motor Cooperation Japan with Ghandhara Nissan – $41.3 million
The entry of big players in the auto market is a sign of great improvement in the country’s auto sector. The next couple of years would see a number of new, advanced cars competing with the existing Japanese auto giants in Pakistan.

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