Two Major European Car Companies to come to Pakistan
The unstable automotive market in Pakistan is about to welcome two car industry titans. In Hub, Balochistan, Premier Motors Limited (PML) is building a manufacturing facility where Volkswagen (VW) and Skoda cars would be domestically assembled.
Volkswagen and Skoda vehicles will be assembled in Pakistan by Premier Motors Limited. Moreover, Premier Motors is a certified CKD assembly partner of Volkswagen Group, the dominant manufacturer of German automobiles. PML’s parent firm, Premier Systems Private Limited, has helped the company establish a presence in the automotive industry.
Since2006, the parent firm has been Pakistan’s sole importer and authorised dealer of Audi AG. Additionally, Premier Systems Pvt Ltd is an authorised importer of Audi vehicles in Bangladesh and Sri Lanka. By the middle of2023, PML will first introduce high-end Volkswagen and Skoda crossovers and SUVs to Pakistan. The project will likely cost $100 million.
Dr. Rüdiger Lotz, the general consul of Germany, went to the production facility that was still being built. He said that for the first time in Pakistan, PML and VW Group will domestically construct premium Skoda and VW vehicles. Despite having its headquarters in the Czech Republic, VW owns and runs Skoda Auto.
The plant will be finished by 2024 and will be able to generate 32,000 units annually, according to the details.
According to German Counsel, Pakistan needs foreign investments now more than ever. They will boost economic activity overall by increasing exports, creating jobs, and generating more revenue.
This is great news fot the automobile industry in Pakistan as two major European car companies to come to Pakistan.