Auto Companies to invest Rs 2.4 billion in automobile sector

ISLAMABAD:The country’s leading brand in auto industry, Ghandhara Nissan have planned to bring investment of worth Rs 2.4 billion in automobile sector in collaboration with M/s Chery Group, China.

Chief Operating officer of Ghandhara Nissan Ltd. Muazzam Pervaiz Khan along with his team visited Board of Investment (BOI) to present Business Plan of Brownfield Investment of Rs. 2.4 billion to Secretary, BOI Ms. Fareena Mazha, said a press release issued by BOI here on Wednesday.

Ghandhara Nissan aims to launch latest passenger cars in Pakistan in collaboration with M/s Chery Group, China.

The line-up includes various types of passenger cars ranging from hatch backs to sedans, crossovers to SUVs and electric vehicles.

In line with government of Pakistan’s initiative to implement Electric Vehicle Policy (EVP), the company will introduce its lineup of electric vehicles in Pak in the next two to three years.

M/s Chery Group is a leading brand of Chinese Auto Industry.

The company has established a complete R/D system with more than 11,000 patents and 3,200 dedicated R /D Staff.

Chery has over 2,600 pilot projects with 23 professional modules covering vehicle and component reliability, handling stability, NVH, safety and environmental adaptability, emissions, materials and other properties of test development and verification capabilities.

Secretary BOI appreciated the planned product line which will provide value for money and offer top of the line safety features to Pakistani consumers.

She further added that the venture will create employment opportunities.

Fareena informed the team about various measures taken by the government to ensure a conducive business environment including incentives proposed in the upcoming Electric Vehicle Policy

She assured of BOI’s facilitation as and when needed for successful execution of the venture.