For those who are fed up with the monopoly of the trio – Honda, Toyota, and Suzuki – the good news is that 5 variants of Renault cars from the French car company will hit Pakistani roads by 2020.
As Express Tribune reports, the company will start production in Faisalabad Industrial Zone on a 54-acre land where it is setting up its assembly plant for $ 140 million.
Renault, which announced an assembly plant to start in 2018 in Karachi changed investment plans several times and preferred Faisalabad after bureaucratic hurdles in Karachi and issues with local partners.
The automaker is working in association with Al-Futtaim Group which is a UAE based business conglomerate having a presence in 29 countries.
The joint venture has a plan to build display offices in various cities of Pakistan by 2019.
As of yet, there are no details on the 5 models Renault cars and their price category, but industry analysts are eying a huge competition for the existing players.
While talking to ET, the Chief Operating Officer Aamir Saleemi of the FIEDMC explained that with the introduction of new vehicle brands, the choice for the consumer will increase and hence there will be more quality products from the assemblers.
He further hinted about two more auto brands shaking hands with the industrial zone to build up plants by the end of this year.
Faisalabad Industrial Estate Development and Management Company (FIEDMC) is the largest industrial zone in the country and has become a lucrative place for the foreign investors especially after the Automotive Development Policy 2016-21.
Hyundai-Nishat Motors is also in the process of building its auto assembly plant in Faisalabad.