49576Hyundai Nishat Motors Private Ltd (HNMPL) will start local assembly of Porter H100 with twenty per cent indigenisation in January of 2020. The company also opened a digital showroom and 3S dealer in Karachi where they introduced Hyundai Ioniq Hybrid car.
Talking to sources after the inauguration of the showroom, Chief Operating Officer (COO) of Hyundai Nishat Motors Private LTD (HNMPL) said, ” The total investment at the Faisalabad manufacturing facility is $150 million with an annual production capacity of up to 15,000 units. The plant will employ 250 people directly.”
If you’re not aware- HNMPL is a joint venture company between Nishat Group, Sojitz Corporation (Japan), and Millat Tractors Limited. They all are partnering up with Hyundai Motors Company (Korea) to become manufacturer, distributor and marketer of automobiles in Pakistan.
On questioning about few jobs and localisation, the Chief Operation Officer (COO) of HNMPL added, “Localisation level would be increased to 45 per cent in the next five years which would also open new job avenues.”
He also commented on uncertain dollar-rupee parity saying, “One dollar was equal to Rs.105 when we initiated the project as compared to current rate of Rs.156-158.” However, he further added, “Higher indigenisation in vehicles can stabilize on which we are focusing more.”
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