ISLAMABAD: Leading Chinese automaker Chery has launched in Pakistan through a manufacturing and licensing agreement with Ghandhara Group. This initiative has initially injected an investment of Rs. 2.4 billion in Pakistan’s automotive sector.
As per the details, both entities have planned to increase the production capacity and ameliorate product quality while embracing the latest trends in technology.
Ghandhara and Chery are eyeing localization and export as the next targets. Following the successful infiltration into Pakistan’s market, the companies are now looking to penetrate South Asia and other emerging markets.
This endeavour promises to give a great boost to Pakistan’s export sector helping the economy tackle financial challenges and improve GDP.
The official brand launch of Chery Automobiles Co. Ltd. named, “A Glance Into The Future of SUVs” was arranged at a local hotel in Islamabad.
While addressing the attendees, the Executive Vice President of Chery, Charlie Zhang said, “Chery’s entrance to Pakistan’s automotive market represents a colossal leap in the ongoing progress of local manufacturing infrastructure and economic activity.” He further added, “We believe that, with the close collaboration and cooperation of the Pakistani government, this will deliver sustainable benefits for the national economy, stakeholders, partners, Chery, and Pakistan’s automotive industry.”
The Ghandhara-Chery alliance has also agreed on promoting localization. CEO of Ghandhara Group Ahmed Kuli Khan Khattak said, “By localizing the manufacturing of components and parts and boosting development in the auto supplier industry, Pakistan will be provided with the much-needed technical assistance. This will also serve as a cornerstone for promoting Pak-China cooperation in the automobile industry that will significantly boost the country’s economy through exports.”
It was also revealed that Ghandhara plans to invest about $10 million over the next four years. The project and the development of a distribution network promise to create many job opportunities in the industry while driving economic growth. The ambition to localize production, create jobs, and drive exports was reiterated by the key speakers.
