Karachi: Hyundai Nishat Motors Private Limited (HNMPL) will begin assembling vehicles locally from January 2020, according to a news report. The company made this announcement after inaugurating its latest showroom in Karachi and introducing its new Hyundai Ioniq Hybrid car. This facility includes the company’s trademark 3S dealership, along with a digital showroom.
The company plans to begin assembling its Porter H100 pickup in its manufacturing facility in Faisalabad from January 2020, with 20% indigenisation. HNMPL Chief Operating Officer (COO) Tatsuya Sato said that over USD 150 million has been invested into this plant, which has the capacity to produce 15,000 units annually. He added that the plant would immediately generate over 250 jobs in the area, and that the company aims to increase localisation by 45% over the next 5 years.
HNMPL is a joint venture between Nishat Group (Pakistan), Sojitz Corporation (Japan), and Millat Tractors Limited (Pakistan), and is partnering with Hyundai Motors (Korea) to become a leader in the automobile market in Pakistan.