LAHORE: Nexus Automotive Ltd (NAL) is all set to roll out its locally assembled model of General Motor Corporation (GM)’s Chevrolet by the end of 2005.
The US auto giant has agreed to extend its franchise and local assembling permission to one of its former employees, Muhammad Abdul Razzaq, Chairman and Chief Executive Officer of NAL.
"We have already acquired assembly line of Gandhara Nissan at Karachi where the same 1,000cc car will be assembled with 80 per cent quality standard for the first time in the country for domestic customers," said Muhammad Abdul Razzaq while speaking to The News.
He said that his company had planned to invest $15 million for equipping the assembling facility with proper machinery.
He claimed that after 30 years of service with GM he retired as Corporate Vice President and at the time of retirement, he was controlling the company’s business worth $33 billion out of overall business of $220 billion.
Being the mastermind behind establishment of GMC’s overseas assembling facilities at China, Thailand and India, Abdul Razzaq was confident of establishing the same over here in Pakistan.
Despite the fact that a vendor takes at least two years to establish a new part right from drawing to engineering and finishing, Razzaq claimed to utilise locally manufactured parts in Chevrolet as much as available from domestic vendors.
I have told at a recently held Vendors’ Conference at Karachi, that our company may take as much as seventy per cent parts, should these parts meet quality and in time delivery standards set by the company, he said while replying a question about localisation of the GMC vehicle.
He said that after the rejection of Pakistan’s request for seeking extension in deletion programme, country’s automotive sector has started blinking at the global auto horizon.
He said that initially his company is planning to introduce 1000cc vehicle as demand and growth in this sector has been enormous.
However, we would introduce model in other capacities like 800cc or Optra later on in due course of procedure.
He said that currently his company is importing the same car.
However, he declined to comment regarding performance of his sole distributors, whose dealership has already been cancelled by him after assuming the directly marketing of the imported vehicles.
[The News, May 06, 2005]