Government of Pakistan has awarded category-A Greenfield Investment status to KA Hanteng Motor Company Pvt. Ltd, under automotive development policy 2016-21 which will bring an investment of about $50 million in auto sector.
KA Hanteng Motor Company has joined hands with a renowned Chinese car maker Hanteng Automobile Co. Ltd., to start manufacturing passenger cars & SUVs. Joint venture will setup an assembly plant with a capacity to build 15,000 units per year. The joint venture agreement which was signed in May this year in Shangrao, China also covers technology transfer, production of electric & hybrid vehicles.
According to the notification KA Hanteng Motor, will strictly adhere to the conditions laid down in Notifications No. 2(9)/2013-LED-II dated 2nd June, 2016. This development shows increasing trust of Chinese private companies in Pakistani economy and investment opportunities. The decades old relations between Pakistan and Chinese governments will further strengthen through industrial cooperation which is considered as the next level of CPEC.
The company plans to introduce hybrid vehicles & SUVs in near future. Hanteng Pakistan website shows the X5 SUV and X7S SUV in both gasoline and hybrid derivatives. KA Hanteng Pakistan website can be visited at: kahanteng.com
Further details will be updated as and when available. Stay tuned to CarSpiritPK for the latest updates.