Chery, a leading Chinese automaker, has entered into a production and licence arrangement with Ghandhara Group in Pakistan. This project has so far invested Rs. 2.4 billion in Pakistan’s automotive sector.
According to the specifics, both companies intend to boost manufacturing capacity and improve product quality while embracing the latest technological https://gil.com.pk/.
Localization and export are the next goals for Ghandhara and Chery.
After successfully entering Pakistan’s market, the corporations are now trying to expand into South Asia and other rising regions.
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This endeavour has the potential to significantly expand Pakistan’s export sector, assisting the economy in addressing financial issues and increasing GDP.
Chery Automobiles Co. Ltd.’s official brand launch, titled “A Glimpse Into The Future of SUVs,” was held at a local hotel in Islamabad.
Read more: Toyota to invest $100mn in Hybrid Electric Vehicles in Pakistan
“Chery’s entry into Pakistan’s automotive industry signifies a huge leap in the continued improvement of local manufacturing infrastructure and economic activity,” said Charlie Zhang, Executive Vice President of Chery. “We believe that with the close involvement and support of the Pakistani government, this will offer long-term benefits for the national economy, stakeholders, partners, Chery, and Pakistan’s automotive industry,” he added.
Ghandhara and Chery have also committed to promote localization.
“By localising the manufacturing of components and parts and increasing development in the auto supply business, Pakistan will be supplied with much-needed technical help,” stated Ahmed Kuli Khan Khattak, CEO of Ghandhara Group. This will also serve as a foundation for furthering Pakistan-China collaboration in the automobile industry, which will greatly benefit the country’s economy through exports.”
Ghandhara also indicated plans to invest $10 million over the following four years.
Read more: Gandhara Nissan to launch electric cars in Pakistan within the next three years
The initiative and the creation of a distribution network have the potential to generate numerous job opportunities in the industry while also driving economic growth. The key speakers reaffirmed their desire to localise production, generate jobs, and promote exports.