Renault To Set Up Production Plant In Pakistan By 2018

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French car manufacturer Renault will be setting up a production plant in Pakistan by 2018.This was stated by the company yesterday.

Renault To Set Up Production Plant In Pakistan By 2018

At present the Pakistan car market in being dominated by Suzuki, Toyota and Honda. But these manufacturers are often accused of colluding to fix prices on lower quality versions of their models.

Renault To Set Up Production Plant In Pakistan By 2018

Pakistan Board of Investment in a statement said, "Renault has decided to invest in Pakistan. They will start assembling cars in Pakistan by 2018."

Renault To Set Up Production Plant In Pakistan By 2018

The Chairman of the Board, Miftah Ismail has been in discussion with several other foreign car manufacturers such as Fiat, Nissan, Peugeot, Renault and Volkswagen.

Renault To Set Up Production Plant In Pakistan By 2018

But in a development in September 2016, Ismail met the Renault leaderships with Pakistan's Finance Minister Ishaq Dar in France and convinced the French automaker to invest in Pakistan.

Renault To Set Up Production Plant In Pakistan By 2018

Confirming the news Renault said that it's an exclusive negotiation to develop the brand in Pakistan including a production facility.

Renault To Set Up Production Plant In Pakistan By 2018

Renault said, "Groupe Renault confirms it has entered into exclusive negotiations with Ghandhara and Al Futtaim Groups to develop the Renault brand in Pakistan, including a manufacturing plant on the Ghandara site in Karachi."

Renault To Set Up Production Plant In Pakistan By 2018

Currently, only fewer car manufacturers are operational in Pakistan. Many international car brands are reluctant to shift their production plant to Pakistan because of political and economic disturbances in the country.

Renault To Set Up Production Plant In Pakistan By 2018

Pakistan government has also announced duty-free import for foreign car manufacturers to import equipment to set up plants in Pakistan. Last year Volkswagen also visited Pakistan but has not announced any plans about entering Pakistan.

Read more on: #renault #auto news
Story first published: Saturday, November 5, 2016, 9:40 [IST]
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