Al-Futtaim to invest $230m in local auto industry

Al-Futtaim group has announced that the company in collaboration with Renault will be investing $230m in Pakistan’s local auto industry.

As per the reports of local media outlets, the Renault has formally given application to Engineering Development Board (EDB) to build its manufacturing plant. It is to be noted here that the companies have acquired the land in FIEDMC, Faisalabad and will start building a plant soon.  

renault app push

Read Also: Toyota IMC to invest PKR 3.3 billion in local auto industry

The joint venture of both these companies is all-geared up to launch five new vehicles by mid of 2020 and is committed to shipping 50,000 units per annum.

As of now, the design and the pre-engineering works are underway, and after completion, the manufacturing of the plant will begin. It is expected that work on the plant will start from Q4 of this year.

Aside from Renault and Al-Futtaim, Toyota IMC has also announced an investment of PKR 3.3 billion in the local auto industry to increase the production capacity of the plant to 76,000 units.

That’s it from our side, drop our thoughts in the comments section below.

Notable Replies

  1. aaxam says:

    another sad start of arab investment into which looking to be as failing endour like Warid of a European company. Renault offering very unpractical and unpopular products which are no competition with Japanese better quality and cheaper products and lower custom slabs. Another sad advisory to Arabs by their western advisors.

  2. Skt_Z4 says:

    So, It'd be OK, that they simply not Invest here, After all, Pak Auto Industry has a very weak Potential!!!

    Rightttt!!!! :neutral_face:

  3. Very positive initiative. Thanks to IK for giving this confidence to investors

  4. Though Renault is expected to face tough competition but far as investment is coming to Pakistan 🇵🇰 it is GooD OMEN.....

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