Complying with the auto policy 2016-21, the Government has given Category A Greenfield Investment Status to KA Hanteng Motors Company Pvt. Ltd.
In collaboration with the Chinese automotive giant – Hanteng Automobile Co. Ltd., the venture will be investing $50 million in the auto sector of Pakistan.
The company is looking forward to manufacturing passenger cars and SUVs, and the assembly plant will be built with a capacity of producing 15,000 units of vehicles in a year.
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Furthermore, in the agreement, which was signed in May 2018, the companies also mentioned technology transfer and production of electric and hybrid vehicles.
KA Hanteng Motor will abide by the conditions mentioned in Notifications No. 2(9)/2013-LED-11 dated 2nd June 2016.
After the auto policy 2016-21, many Chinese automakers have invested and collaborated to set up assembly plants in Pakistan. For the latest happenings in the automotive world, stay tuned to PakWheels.com.