Master Motors and Changan Automobiles of China has signed a joint venture (JV) agreement to import and assemble LCVs, MPVs, SUVs and Passenger cars in Pakistan. The signing ceremony was held at PC Hotel Karachi where Vice President Changan, Mr. Wang Huanran and Chairman Master Motors Mr. Nadeem Malik signed the JV agreement. CarSpiritPK was officially there to witness the event.
According to the agreement both companies will jointly make a $100 million investment in Pakistan with Master Motors to have 70% stakes while Chnagan to get 30% stakes in the JV. However Changan will retain the right of refusal if Master wishes to sell its stakes. This joint venture is expected to generate more than 10,000 direct and indirect jobs in the country.
The ground breaking of Changan assembly plant was held in March earlier this year. The plant is expected to reach completion by December 2018 and will be operational as early as 2019. The most important aspect of the JV agreement is the fact that their assembly plant in Pakistan will be the first RHD base for Changan cars in the world. Vehicles produced here will be exported to RHD markets including Malaysia, Indonesia, Vietnam and South Africa.
While talking to media, Master Motors Managing Director Danial Malik informed that Changan has already stopped producing a vast range of vehicles that will now be relocated to Pakistan, since Changan in China is now focused on producing alternate energy vehicles.
The following vehicles were introduced during the presentation that will be initially launched in Pakistan towards the end of this year. The first batch of these vehicles will be CBU import, whereas the local production will commence as soon as the assembly plant is ready.
- Changan CX70T SUV
- Changan A800 MPV
- Changan Karavan van
- Changan M8 and M9 pickups
The CX70T SUV was displayed at the ITIF earlier this year. The 7 seat SUV is powered by a 1.5 liter turbocharged engine. Click here to read more about the CX70T. The A800 is a 7 seat MPV also powered by a 1.5 liter turbo engine. The Karavan is a 1,000cc van whereas the M8 and M9 are 1 ton commercial loading pickups.
Chongqing Changan Automobile Limited, which is a state-owned Chinese automaker considered among the Big4 automakers in China with an annual production of more than 3 million units a year. Changan operates joint ventures with world renowned automakers including Ford (Changan Ford), Groupe PSA (Changan PSA), Mazda (Changan Mazda) and Suzuki (Changan Suzuki).
Changan is considered as the second most popular domestic brand in China with a stunning range of vehicles including hatchbacks, sedans, SUVs, MPVs and commercial vans and pickups, which are successful within China as well as international markets.
CarSpiritPK has been on the forefront of providing all the information on Chinese cars in Pakistan. Browse our previous articles below to know more about the modern range of Changan vehicles.