Lahore: The Hyundai-Nishat Motor Company started commercially producing light trucks in its Faisalabad assembly plant on Wednesday, according to a news source.
Read: Govt invites bids for Allama Iqbal Industrial City development
A senior company executive revealed that the production capacity for light trucks in this plant can go as high as 50 units per day with two-shift operations. However, citing the currently low automobile sales in Pakistan, he added that the plant will only produce 20-25 units per day, with one shift, until further notice. If the demand for automobiles picks up, the production will be increased accordingly.
Read: AIIC declared Pakistan’s ‘most lucrative’ investment project
The company plans to release three locally assembled Hyundai passenger cars, with one launched every six months from June 2020 onwards. The Nishat Group joined hands with Hyundai back in 2017 to promote local automobile production and assembly. It also recently partnered with Millat Tractors (Pakistan) and Soljitz Corporation (Japan), to invest PKR 19 billion in for the assembly of Korean cars and light trucks at its vast manufacturing facility in Faisalabad.