In a good news for car lovers, Premier Motors Limited (PML) will initially launch premium Volkswagen crossovers in Pakistan by 2023. Along with that, the company will also release Skoda SUVs in the same time frame. It is pertinent to mention that PML is the official CKD assembly partner of German auto giant, Volkswagen Group.
Furthermore, PML has appointed AKD Securities Limited as its financial adviser to achieve financial close of its CKD assembly plant project in Pakistan,
The statement further said that PML has been constructing its production plant in Hub, Balochistan, since July 2021. “The construction is in full swing, and the plant will have the capacity of 30,000 vehicles per annum,” the company added. The estimated cost of the project is $100million.
Presence of PML
The company already has a strong footprint in the local auto industry through its parent company, Premier Systems. Premier Systems is the sole importer and authorized dealer of Audi AG in Pakistan since 2006. It is also an authorized dealer of Audi cars in Bangladesh and Sri Lanka.
Volkswagen Vehicles in Pakistan:
In 2018, Volkswagen AG and Premier Motors Ltd signed the final legal agreement for manufacturing commercial vehicles in Hanover, Germany. Under the agreement, the company vowed to invest $135 million to make new cars and set up an assembly unit in Pakistan.
Earlier reports suggested that the German company will manufacture its Amarok Truck and Transporter Van in Pakistan. Amarok Truck will compete with Toyota Hilux and Isuzu D-Max. Meanwhile, Transporter will go up against Hyundai Grand Starex and KIA Grand Carnival.
The Board Member of Management of Volkswagen Dr Joseph Baumert met then Prime Minister Nawaz Sharif. The PM assured him that the government would ensure that the company will get all the facilities and help it needs.
Are you excited about the Volkswagen vehicles? What are your expectations from the company?
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Good to see European coming here. U gets hedging of risks when you have ample numbers and investment from west.