The Big three Automobile face of Pakistan, Honda Atlas, Suzuki, and Toyota IMC have gone to face tough competition as Government recently awarded international automakers Greenfield status to invest in Pakistan. While two are awarded Brownfield Status This was done under the Auto Development Policy of 2016-2021.
Two other companies have been awarded the status of Brownfield Status. As per the investment status, these companies are coming in with a total handsome amount of more than $1.1 billion.
The Greenfield Status lets the investors or the automaker companies install an independent automotive assembly in Pakistan for the production of cars that are not being produced in Pakistan.
Brownfield Status awards the revival of non-operational assembly or not a working assembly facility through the joint ventures.
The Automakers that have been awarded the Greenfield Status to invest in Pakistan are
- Hanteng Company Motors (Pvt.) Ltd
- Khalid and Khalid Holdings (Pvt.) Ltd
- Topsun Motors and Engineering Services (Pvt.) Ltd
- Khalid Mushtaq Motors (Pvt.) Ltd
- Hyundai Nishat Motors (Pvt.) Ltd
- Pak China Motors (Pvt.) Ltd
- Master Motors Ltd.
- United Motors (Pvt.) Ltd
- Regal Automobile Industries (Pvt.) Ltd.
- JW Auto Park (Pvt.) Ltd.
- Kia Lucky Motors Pakistan Ltd.
- Sazgar Engineering Works (Pvt.) Ltd.
- Al-Futtaim Automotive Pakistan (Pvt.) Ltd.
The other companies that are going to revive their manufacturing and operational statuses are Deewan Farooque Motors and Ghandhara Nissan Ltd.
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The Auto Development Policy is an investment-friendly policy that will allow the Pakistan Automotive Industry to market the local automakers a competition to groom. And, if the policy goes along as well as it was planned, the consumers would be blessed with more choices for less money value. Future cars will ensure that they provide better quality, environmental, and safety standards.
European Automakers-French Renault and German Volkswagen are slow in the investment process since their statement that they set up their manufacturing and assembly plants in 2018.
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In June 2018, Renault acquired land at M-3 in the special economic zone of Faisalabad. But, then there’s no progress and update on the progress up till now. The same goes for the state of Volkswagen, who is yet to acquire land for its plants in Karachi-the economic hub of Pakistan.