Top Chinese automotive brand Changan Automobile and Master Motors have entered into a joint venture with biggest Chinese investment in local auto industry of US$100 million to contribute to the indigenization of the automobile industry of Pakistan.
Changan Automobile Assistant President & Overseas Business Development Department General Manager Wang Huanran and Master Motors Limited Chairman Nadeem Malik signed the agreement to pool their 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 right hand drive vehicle (RHV) to export to RHD countries,” said Wang Huanran while talking to media after the ceremony.
He said that Changan is the largest selling chinese brand in China for 10 years in a row touching annual volume of 2.8 million with wide range of world class products in LCV, SUV, MPV and passenger cars segment through joint ventures in China with manufacturer like Suzuki, Ford, PSA, Mazda, Bosch, Aisin and Scheffler.
Changan is producing world class products with an emphasis on safety and research development. Changan has been ranked for No 1 R&D capability for continuous 10 years with nine R&D centers in China, Itlay, Japan, UK and USA.
Also, Changan has partnered with internet services firm Tencent to form subsidiary to develop the interent of vehicles and is first company to introduce level 2 autonomous technology in mass production cars in China.
Chairman Master Motors Limited Nadeem Malik said that Master Group is working in automotive industry for two decades and producing esteemed truck and bus brands and has so far sold over 17000 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 1000 inhabitants. Together with Changan we can tap the market potential while leading on technology front and offering latest technologies at 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 LCVs followed by passenger cars and electric cars.
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 localization, he 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 three years”, he added.
“We are in the process of selecting dealers to be part of our network to serve our customers better by ensuring service 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.