The automobile industry of Pakistan is seeing growth in terms of new companies introducing new models in the country. Hyundai Motor which is owned by Nishat (Private) Limited stated on Tuesday, that it has unveiled its ‘Ioniq’ hybrid car while inaugurating its digital showroom at the Emerald Tower in Karachi.
The brand new showroom opened in Karachi is designed to give its customers a digital showroom experience that has been developed under the ‘city store’ concept, supplementing traditional showrooms with a convenient, fully digitalized retail experience.
The company COO stated that he compares Pakistan with Indonesia and he sees the same growth in Pakistan as well.
According to Pakistan Today, the cars Hyundai Pakistan is selling at the moment are all imported, completely built units (CBUs) and the company is planning to start manufacturing in January next with H1 100 Trucks having 20pc level of localization, which would reach up to 45pc in five years.
The company’s COO further added that Hyundai, as per its international vision, would also start electrification of its cars as soon as the environment is conducive. He urged the government to encourage the use of electric cars and ensure the availability of electric stations.
Hyundai Pakistan’s new manufacturing facility is spread across 67 acres of land in Faisalabad with yearly production capacity up to 15,000 units. Hyundai Pakistan is a joint venture company among three leading international businesses; Nishat Group, Sojitz Corporation (Japan) and Millat Tractors Ltd.