Automotive assembly plant of Foton JW Auto Park (Pvt.) Ltd is all set to start operations from tomorrow while the news has come that PM Imran Khan will be inaugurating the production unit located in Lahore.
Foton JW Auto Park is the first Pakistani company in the auto industry that has a 50/50 partnership agreement with the chinese company. Moreover, the company has also acquired the transfer of technology for engine, transmission and other parts.
Both partners have invested equally $150 million for the 50-acre land which has the capacity to manufacture 30,000 units a year. The new venture is going to bring 500 direct employment opportunities while in the first phase only light and medium commercial vehicles will be manufactured by the company.
However, JW Forland Auto has plans to enhance the production capacity by acquiring 100 acres of more land and manufacturing 100,000 units a year. The company is eyeing the CPEC projects and have plans to acquire a major share of commercial vehicles for the economic gateway.