Finally,the news of Renault coming to Pakistan has been confirmed, as reported a month back that French automaker is enthusiastically wanting to approach the country, and in this view the company has signed MoU (Memorandum of Understanding) with UAE’s Majid Al Futtaim—an Emirati company to establish a factory in Pakistan for the manufacturing of vehicles.
Renault and Al Futtaim have officially announced the agreement. According to the agreement, a production unit will be made in Pakistan. The French automaker will bring in its latest products and technology while Al Futtaim will setup a new manufacturing and assembly plant and distribute the cars.
As per the details, the production plant will be constructed in Karachi at its industrial area in the first quarter of 2018 according to Renault standards, and the cars will carry its sale in 2019. Senior Vice President, Chairman of the Africa Middle-East India Region of the Groupe Renault Fabrice Cambolive said: “Groupe Renault is delighted to extend its international footprint by entering Pakistan, a fast-growing market with a 10% annual growth rate.”
Furthermore, the president of Al Futtaim Automotive Len Hunt uttered that Pakistan has a good middle-class population and the market has an immense potential. It is a potential market for us. And we are very much eager to represent Renault.
The company is scheduling to launch its iconic Duster SUV to take the local market by storm. The Renault’s entrance into Pakistan will certainly bring variety to the local market.
Apart from Renault, one bigger automaker Volkswagen is also planning to influx investment in Pakistan. Dr. Joseph Baumert ,The member of board’s Management of German Automaker Volkswagen, had a meeting with the prime minister at his office on this subject.
This sign is good for Pakistani local auto industry, and in the coming years, it will certainly boom and flourish.
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