Two new auto companies namely known by the names of Topsun Motors and Pak-China Motors have confirmed their entry into Pakistan. They have been on the whole awarded Greenfield status by the side of the government to set up their respective factories. It is to be mentioned that both of the companies have been conferred a category-A Greenfield Investment status by the access of the Ministry of Industries and Production (MoIP).
Government Awards Greenfield Status To Two New Automakers
Topsun Motors and Pak-China Motors have been somehow legally all permit as to carry out the services to assemble and manufacture vehicles in the country. In the coming future you would be able to catch with so many of the latest and new vehicle products being running on the roads. Ever since the government had announced the 2016-21 Automotive Development Policy, there have been huge number of notable brands have opted for a local license to manufacture vehicles. This entrance has been adding with the international and local brands, but most of the new companies are from China. Topsun Motors and Pak-China Motors have agreed to the timeline of the state’s conditions in order to reach an agreement.
The companies are required to hence perform adhere to the clauses that are to be mentioned in the Auto Policy, and also in regard to manufacturing their products while closely following the required standards.
Production Standards:
The standard production of the vehicle has been all set by the Engineering Development Board (EDB), which certifies a new entrant for the sake of the manufacturing vehicles. The Board also give away with the companies with a list of allowed components for the purpose of importing, and other impositions before a firm can start manufacturing.
Topsun Motors currently operates out in Punjab and usually deals with the medium of the vehicles originating from European brands. By means of the approval, the auto companies will be able to get hold on with the Greenfield status are now 10 in total. Topsun Motors, are somehow operating in Punjab, Pakistan, however, it is committed to on the whole be expanding its services across Pakistan. Moreover, Pak-China Motors has been at the same time registered address as the Karakoram motors.
The Greenfield status has been granted to just those of the well-known companies that are under the condition that all these selected companies will follow all the rules and regulations set by the government under auto policy 2016-21.
The other companies which have been given out with the Greenfield status are as mentioned below:
Regal Automobile Industries Limited
Kia-Lucky Motors
Hyundai-Nishat
United Autos
Khalid Mushtaq Motors
Foton JW Auto Park, owned by JW SEZ (formerly Ruba SEZ)
Sazgar Engineering Works
Master Motors
Greenfield Investment is defined as the medium of the installation of new and independent automotive assembly and so as the manufacturing facilities by an investor for the production of vehicles. This will be adding a huge development in Pakistan automobile market world.
