Karachi, June 29, 2018: Chinese automotive brand Changan Automobiles and Master Motors have entered into a joint venture with the biggest Chinese investment in the local auto industry of US$100 million to contribute to the indigenization of the automobile industry of Pakistan.
Assistant President of Changan Automobile and General Manager of Overseas Business Development Department, Wang Huanran and Chairman Master Motors Limited, Nadeem Malik signed the agreement to pool the resources and expertise to achieve the common goal of becoming Pakistan’s leading automobile company by 2025.
“We are excited to see the market potential not only in Pakistan but also the export opportunities we can tap. Changan has selected Pakistan as the base country for the right-hand drive vehicles (RHD) to export to RHD countries, said Wang Huanran while talking to the media after the ceremony.
He said that Changan is the largest selling Chinese brand in China for ten years in a row touching annual volume of 2,870,000 units with wide range of world-class products in LCV, SUV, MPV, and Passenger car segments through joint ventures in China with manufacturers like Suzuki, Ford, Mazda, Bosch, Aisin, and Scheffler.
Changan is producing world-class products with an emphasis on safety and Research and Development. It has been ranked for No.1 R&D capability for continuous 10 years with nine R&D centres in China, Italy, Japan, UK, and the USA.
Also, Changan has partnered with the internet service firm Tencent to form a subsidiary to develop the “internet of vehicles”(IoV) and is the first company to produce level 2 autonomous technology in mass production cars in China.
Chairman Master Motors Limited Nadeem Malik said that Master Group is working in the automobile industry for two decades and producing esteemed truck and bus brands and has so far sold over 17,000 vehicles in Pakistan.
“Pakistan has huge potential in terms of Motorization index since it is ranked 160th in the world with only 18 vehicles per 1,000 inhabitants. Together with Changan, we can tap the market potential while leading on the technology front and offering latest technologies at an affordable price to deliver unprecedented value to the customers,” he added.
Chief Executive Officer Master Motors Limited Danial Malik said that “We aim to bring value and cutting-edge technology to every segment of the market, with an emphasis on SUVs, MPVs and LVCs, followed by Passenger cars and Electric vehicles”.
“This joint venture with Changan will not only create thousands of jobs in the industry but also promote the Pakistani vendor base through technology transfer via localisation,” he further added.
He said that our plant being established in Karachi will start production in December 2018 with the plant capacity of 30,000 units in double shift. “We will start with few thousand units a year and will reach our full production capacity within 3 years’ time,” he asserted.
“We are in the process of selecting dealers to be part of our network to serve our customers better by ensuring services and spare parts availability in all major cities,” said Danial Malik inviting the dealers who can uplift the integrity of the Changan brand and provide customers with a world-class experience.