Hyundai, Al-Haj to assemble vehicles in Pakistan

Hyundai, Al-Haj to assemble vehicles in Pakistan

KARACHI: Hyundai of South Korea has joined hands with Al-Haj Group to introduce top-of-the-line heavy commercial vehicles (HCV) through a technology transfer contract (TTC) under the subsidiary of Al-Haj Hyundai Ltd.

Al-Haj Hyundai will initially introduce a heavy duty truck Xcient, Universe Luxury buses and Mighty medium and light duty trucks. Later on, Al-Haj Hyundai also plans to introduce other products of Hyundai in cargo and passenger-handling segments.

The China-Pakistan Economic Corridor (CPEC) has the potential to facilitate up to four per cent of global trade by 2020.

It will accelerate economic growth through the development of a 21st century Maritime Silk Road, encompassing a modern trade and infrastructure network.

Addressing a press conference on Thursday, Al-Haj Hyundai CEO Bilal Khan Afridi said the joint venture will create employment opportunities. He added that the first phase of investment in the plant will involve approximately Rs1.5 billion.

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