Technology

Nissan to invest 4.5 billion PKR in Pakistan

Nissan Motor Co., Ltd. is entering the Pakistan market through a manufacturing and licensing agreement with automotive partner Ghandhara Nissan Ltd. for local production of Datsun models. The agreement will create more than 1,800 jobs.

The agreement also covers distribution, providing access to a market where demand for new vehicles has grown to more than 200,000 units a year.

The move is part of Nissan’s strategy to engage with emerging automotive markets around the world, bringing brands and products tailored to meet rising consumer demand. Sales of the first locally built vehicles are expected to begin in Pakistan within the 2019 fiscal year.

“This entrance to the Pakistan automotive market represents a significant step in the ongoing development of local manufacturing infrastructure and economic activity,” said Peyman Kargar, Nissan senior vice president. “We are confident that, with the close collaboration and support of the Pakistani government, this will deliver sustainable benefits for the national economy, customers, partners and Nissan.”

“Together with Ghandhara, we’ll be working actively with suppliers to localize and exchange technology and skills, which will provide a lasting benefit to the emerging local component industry,” Kargar added.

Nissan’s entry will provide Pakistani customers with a fresh and desirable lineup designed and built with the most modern Japanese engineering.

It will also provide a significant boost to the automotive industry, which already accounts for about 4% of Pakistan’s gross domestic product. Ghandhara will invest 4.5 billion Pakistani rupees (about $41 million) over the first four years. The project and the development of a retail network will create more than 1,800 jobs.

Nissan and Ghandhara will work together to develop Ghandhara’s facilities in Karachi’s Port Qasim in to a world-class manufacturing plant. The partners have a long-standing relationship, bringing a wealth of local knowledge and experience. The project has qualified for brown-field category status under the Government of Pakistan’s Automotive Development Policy.

“This agreement will introduce world-class facilities and the best of Japanese engineering technologies,” said Ahmed Kuli Khan Khattak, CEO of Ghandhara. “By localizing the manufacture of parts and components and boosting development in the auto supplier industry, it will provide Pakistan with technical assistance and promote partnerships with Japan.

“Customers in Pakistan will benefit from more choice and enjoy engaging driving experiences with vehicles and modern features that are ideally suited to the country.”

Sponsored
Press Release

Leave a Comment
Share
Published by
Press Release

Recent Posts

Pakistani Passport Continues to Rank Among the Worst in the World

According to the most recent Henley Passport Index, Pakistan's passport is still one of the…

18 hours ago

November 9 Approaches: Will Iqbal Day Be a Public Holiday This Year?

As Iqbal Day approaches on November 9, Pakistan prepares to honor Allama Iqbal, the celebrated…

19 hours ago

Most Wanted Human Trafficker Taken Into Custody

GUJRAT: According to the Gujrat circle of the Federal Investigation Agency (FIA), they have arrested…

20 hours ago

Air Sial Starts Weekly Flights from Islamabad to Riyadh

Air Sial, one of Pakistan's leading private airlines, has officially launched its weekly flights from…

20 hours ago

Important Update on Profit Rates for Savings Schemes 

On Friday, the government stated that from November 4th, 2024, profit rates on National Savings…

22 hours ago

Pakistan to Legalize Bitcoin and Cryptocurrency Through SBP Act Amendments?

The federal government has proposed amendments to the State Bank of Pakistan (SBP) Act aimed…

22 hours ago