South Korean automaker Hyundai, having teamed up with Nishat Group is in process of making a comeback in Pakistan. The groundbreaking ceremony of the Hyundai-Nishat vehicle assembly plant at Faisalabad’s M-3 Industrial City took place in December 2017.
The Hyundai-Nishat Motors (Pvt) Limited (HNMPL) adventure will see a venture of US $230 Million as the plant is relied upon to at first deliver around 10,000 vehicles for every annum by 2020, and will improve its creation to 30,000 units for every annum by year 2024.
The development of the get together plant is relied upon to finish before the finish of 2019 while the activities will start in mid 2020. HNMPL will supposedly begin its gathering activities with H100 1-ton business pickup as CKD. The H100 pickup was accessible in Pakistan amid the earlier decade, named as ‘Shehzore’ and was viewed as a prime decision in the business vehicle advertise with more than 90% piece of the overall industry in its fragment.
According to HNMPL’s production plan, in addition to the H100 pickup, the company will introduce Tucson SUV, Kona Crossover and Elantra sedan by 2020. According to a company official, evaluation of a 1000cc hatchback is also underway, however nothing regarding the launch of a budget-friendlyoptions is finalized at this stage. Perhaps because of the fact that profit margins in selling smaller cars are wafer thin, HNMPL is focused towards introducing models that have the potential to return greater profits to the company.
Hyundai’s arrival to Pakistan is said to help the Government to shake up the Japanese-commanded neighborhood auto showcase and relax the hold of Toyota, Honda and Suzuki. The Government accepts expanded rivalry ought to cut down especially high auto costs in our nation.
However from its looks, Hyundai won’t make any issues for the current Big 3 in sub 3.0 million value advertise as, other than the Elantra, nothing is by all accounts disturbing the current automakers excessively. Elantra with a 1.6 liter motor will principally go up against any semblance of Toyota Corolla Altis or the Honda Civic and is required to be valued some place around PKR 2.5 million check or more.