ISLAMABAD: Ghandhara Group and Chery Automobiles Co Ltd have planned to invest about $ 10 million over the next four years. Leading Chinese Automaker Chery has launched in Pakistan through a manufacturing and licensing agreement with Ghandhara Group and has initially injected an investment of Rs 2.4 billion in Pakistan’s automotive sector.
According to press release issued by Chery Automobiles, both entities have planned to increase the production capacity and ameliorate product quality while embracing the latest trends in technology. The project and the development of a distribution network promise to create many job opportunities in the industry while driving economic growth.
Ghandhara Group and Chery Automobiles are eyeing localisation 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.
Copyright Business Recorder, 2022