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The entry of the French automobile manufacturer Renault in the Pakistani market is being considered a good omen for the country’s automobile sector.
The entry of the world’s 10th largest automobile manufacturer, and the second largest automaker in France, would not only add fuel to the market competition but would also provide some 10,000 job opportunities in direct and indirect jobs for the Pakistanis, informed the Ghandhara Nissan Limited (GNL) to the Pakistan Stock Exchange (PSX).
"GNL is proud to join hands with Renault, one of the largest global automobile manufacturers and Al-Futtaim, UAE. The company will produce the vehicles at its existing assembly plant located at Port Qasim,” said Sheharyar Aslam, company secretary at GNL, reported local media.
The project will attract investment of around $100 million including approximately 60 percent foreign investment informed the company, calling the new auto policy “a move that will ensure an even playing field to new entrants,” added Aslam.
Previously, it was learnt that Renault is set to open its manufacturing plant by 2018, as it was announced by the government on Thursday. However, it remains to be seen how the European automaker would cope in the market dominated by Japanese titans i.e. Suzuki, Toyota and Honda.
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