South Korean automobile manufacturer Hyundai, has now joined hands with Al-Haj Group to introduce top-of-the-line heavy commercial vehicles through a technology transfer contract (TTC), under the subsidiary Al-Haj Hyundai Pvt. Ltd. The venture will aim to upgrade the standards of high quality commercial vehicles in the market.
The China Pakistan Economic Corridor (CPEC) has the potential to facilitate 4% of the global trade volumes to pass through Pakistan by the year 2020. It will accelerate the economic growth of Pakistan and several other countries in the surrounding region, through the development of a 21st century Maritime Silk Road, encompassing a modern trade and infrastructure network.
With the demand of heavy duty vehicles on a sharp rise, Al-Haj Hyundai Pvt. Ltd. will initially introduce; a heavy duty truck XCIENT with different variant, UNIVERSE Luxury buses, for intercity travel, and MIGHTY medium and light duty trucks. Later on, Al-Haj Hyundai also plans to introduce various other products of HYUNDAI in Cargo and passenger handling segments.
The CEO of Alhaj Hyundai Pvt. Ltd – Mr. Bilal Khan Afridi stated:
“This joint venture with Hyundai Motors is a wonderful business opportunity for both the companies, and will not only provide employment opportunities, but will also upgrade the standards of Local Commercial Product segments with advance Technology and High Quality products.”
AL-HAJ HYUNDAI also plans to construct a state-of-the-art manufacturing cum assembling plant, for HYUNDAI-HCV vehicles. For the plant, the company has already purchased 30 acres of land on the main National Highway, near Pakistan Steel. The first phase of the plant will be operational by May 2018.
Hyundai operates the world’s largest integrated automobile manufacturing facility in Ulsan, South Korea, which has an annual production capacity of 1.6 million units, covering 193 countries.
From Daily Times