KARACHI: Nexus Automotive is ready to launch the first Pakistani-assembled Chevrolet car in the country in a few weeks, said the company's chairman, MA Razaq, at a press conference on Thursday.
Nexus Automotive has been importing Chevrolet cars in Pakistan since 2004 and has now entered into assembling of 800 and 1000 cc models in the country with the support of General Motors and Daewoo.
Mr Razaq said the project brought $15 million foreign direct investment in the country, and the company had not borrowed from local banks. He told a questioner that 59 percent deletion would be required in one year.
He said they would manufacture 3,000-3,500 cars next year and increase the production to 8,000-9,000 over the next five years.
He regretted India was far ahead in automobile industry and its exports of auto parts were much higher than Pakistan.
CEO Abdul Razak showed journalists three locally-assembled cars and said it would be launched by middle of December for sale. He said the car had been designed by world-renowned Italian design house Georgetto Giugiaro and manufactured by General Motors Daewoo Auto Technology in South Korea.
Designed by Giugario Italian Design House, the new Chevrolet JOY is a 1000cc car.
[Daily Times, Dec 9, 2005]