The state-owned Chang’an Automobile Group has entered into agreement with Master Motors, a Pakistani manufacturer of light trucks and busses, to assemble sports utility vehicles and light trucks, according to the Pakistan Construction & Quarry trade publication. The plant will be constructed in Karachi. Master Motors is entering Pakistan’s Pakistan’s fast-growing passenger vehicle market. It also aims to export vehicles to various South and Southeast Asian markets. The $100 million investment, with 70% coming from Master Motors.
Chang’an, one of China’s top automobile manufacturers, is the latest foreign company to enter Pakistan after the launch of the 2016-2021 automobile policy, which aims to promote greenfield investments. Other recent foreign entrants into the Pakistani automotive industry include Hyundai, Kia, and Renault.
Updates on the China-Pakistan Economic Corridor and Belt and Road Initiative.