Hyundai Car Assembly Plant in Pakistan

06 Feb 2017

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Hyundai Car Assembly Plant in Pakistan

South Korean car manufacturer, Hyundai
is going to sign the partnership agreement with Nishat Mills Limited of Mian Mansha to get the access to the Pakistani market and they want to establish the vehicle assembly plant in Pakistan.

A decade ago, Hyundai signed the agreement with Dewan Group in Pakistan to assemble and sell the cars in local Pakistani market. Since then, the company was looking for the local partner to sign the partnership and get the access to local market and get re-entry in Pakistani market. Now it seemed that Hyundai found the local partner and the deal will be signed between these two companies.
According to Nishat Mills, the memorandum of understanding has been signed between these two companies and according to this agreement, they will assemble and sell commercial and passenger cars in local market of Pakistan.

The notice of Nishat Mills was sent to PSX and the MoU was signed between Hyundai Motor Company and Sojitz Corporation Tokyo, Japan to carry out the negotiations and establish the framework to set up the green field project for the assembly and sales of the HMC vehicles
and the commercial vehicle having 1 ton in Pakistani market.