This just in that the Malaysian Car manufacturer will be establishing its first South Asian Factory in the economic hub of Pakistan – Karachi. Yes! You read right, Proton is coming to Pakistan. According to the local reports in Malaysia, this will be the first factory of the local Malaysian manufacturers in South Asia. This will be done in co-operation with the Alhaj automotive.
PROTON IS COMING TO PAKISTAN
While reporting to the media, Malaysian High Commissioner to Pakistan Ikram Muhammad said that the Malaysian manufacturers think that there is a high potential for the cars to be sold in Pakistan. The preface of the announcement was done on the 29th of August, 2018 between the Alhaj automotive industries and Proton Holdings at their Headquarters in Kuala Lumpur. Ibrahim briefed that Malaysian President Mahathir Mohammad will formally announce this on his visit to Pakistan.
The formal agreement between the countries will be signed on the upcoming Saturday.The cars will cover all kinds of hatchbacks, sedans, SUVs, and MPVs. On the streets of Karachi, Proton Saga was spotted. Proton Exora was seen on the streets of Lahore. Later, it was confirmed by the Malaysian manufacturer that they are testing their cars within the country.
Malaysian Investment Hong Leong recently announced that land was already acquired by Alhaj Automotive at the Port Qasim of Karachi where the factory will be established. The Memorandum of Understanding will be around a potential investment of $200-300 million. This can be a good investment for Proton Holdings as their sales in 2018 fell down to as low as 2018.
Proton is looking to expand their ventures up to a large extent with the help of the Chinese Automotive Company, which has a 49.9 % stake in the company. The Malaysian company was established in 193, and so far, it has sold more than 3 million cars all around the world.