Ghandhara Nissan plans Rs 2.4 bn investment in auto sector

ghandhara nissan announces to bring multi-billion investment in auto sector

 Ghandhara Nissan partners with China’s Chery automobile company to introduce EVs in Pakistan

Ghandhara Nissan, Pakistan’s leading automobile manufacturer, has collaborated with Chinese state-owned company M/S Chery group to bring investment worth of Rs 2.4 billion in the country’s auto sector. As per reports, Ghandhara Nissan is planning to introduce electric cars in Pakistan in the next three years in partnership with China’s Chery Automobile company.

Ghandhara Nissan CEO Muazzam Pervaiz Khan and his team recently met Board of Investment (BOI) Secretary Fareena Mazhar and presented the plans of the business venture the Chinese firm. As part of its venture, Ghandhara Nissan is working on launching a wide range of passenger cars varying from sedans and hatchbacks to crossovers, SUVs  and electric vehicles (EVs). The company is seeking to provide value for money along with high-class safety features to auto consumers across the country.

BOI Secretary Fareena Mazhar acknowledged Ghandhara Nissan’s upcoming line of products, assuring full support of the Board for the execution of its business plan. She also explained the details of various measures introduced by the government under the Electric Vehicle (EV) policy to provide a friendly business environment to companies.

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“The venture will create employment opportunities,” the BOI Secretary said in a statement.

Reportedly, Ghandhara Nissan is planning to bring electric cars in Pakistan in line with the government’s latest Electric Vehicle (EV) Policy introduced in December 2020. Under this policy, the Federal Cabinet of Pakistan announced a number of measures related to electric vehicles such as new rules for trading, registration, taxation, among other things. With the new EV Policy, the PTI-led government is aiming to introduce a public-friendly transport system in the country.

Speaking to media, Special Assistant to the Prime Minister on Climate Change Malik Amin Aslam had dubbed the introduction of electric vehicles in Pakistan as an “important step” towards promoting a pollution-free environment and reduced vehicle prices.

As economic activities across Pakistan are gradually returning back to normal, the country’s auto market is observing a strong recovery from the repercussions of COVID-19 lockdown. Automobile sales have witnessed a potential increase in recent months due to lower interest rates. With a rise in consumer demand, sales of passenger cars, buses, Jeeps, three-wheelers, motorcycles and tractors have increased significantly, as per industry data. Companies like Hyundai, Kia, DFSK and Proton have also introduced several new cars and sports utility vehicles in Pakistan’s auto industry in the past few months. Meanwhile, M/s Chery Group is one of the most prominent Auto brands in China, with a dedicated R/D system of about 3,200 staff members. It has more than 20 professional modules spread across various business fields including vehicle and component reliability, safety and environmental adaptability, emissions, and test development among others.

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