South Korea’s auto company Hyundai after its successful partnership with Nishat Group for the manufacturing of passenger cars, has joined hands with Al-Haj group to assemble various top of the line trucks and luxury buses.
With the advent of new and improved auto policy 2016 and CPEC, the future of trucks and heavy vehicles actually a very bright one. Hyundai aims to start the production in the next 12 months and has already purchased 30 acres of land outside Karachi. Al- Haj group is currently assembling Chinese trucks and passenger cars.
In Phase 1, Al-Haj will invest Rs. 1,5 billion, while the South Korea’s automotive company may invest when the two companies will move on to the second phase, which is to say, will be in 2019. Initially, the company will introduce different variants of heavy duty truck Hyundai XCIENT, UNIVERSE luxury buses for inter-city travel and Hyundai MIGHTY medium and light duty trucks.
Later on, the company also plans to introduce various other products of Hyundai in Cargo and passenger handling segments. In Pakistan, there are currently four major Chinese truck assemblers who own 40% of market share in this industry. Whereas, the rest of the market is dominated by the Japanese automotive companies.
Al-Haj group has revealed that the prices of their trucks would be higher than the Chinese companies but at least 10% to 15% lower than the Japanese trucks. Recently, Premval (Pvt) Ltd also signed a distribution agreement to introduce SHACMAN Trucks in the country.