Sazgar Engineering Works awarded 'Greenfield Investment status'
- Gets ministry's nod for Great Wall Motors Company as second principal
Sazgar Engineering Works Limited has been awarded the 'Category-A, Greenfield Investment status' by the Ministry of Industries & Production of Pakistan, stated a notification sent by the company on Friday to the Pakistan Stock Exchange (PSX).
“We are pleased to inform you that the Ministry of Industries and Production of Pakistan has awarded the Category-A ‘Greenfield Investment status’ to our company and approve Great Wall Motors Company Limited as the second principal for the assembly manufacture of GWM HAVAL vehicles in addition to BAIC vehicles,” said Sazgar Engineering Works Limited in its filing on Friday.
Sazgar expects to commence commercial production of GWM HAVAL vehicles by June 30, 2022.
HAVAL Jolion by Sazgar arrives in Pakistan
HAVAL - a GWM-owned SUV brand – is known for producing SUVs. The company exports to over 60 foreign countries, with 5 million HAVAL owners around the world.
On the other hand, Sazgar dominates market share in the auto-rickshaw and three-wheeler segment in Pakistan. The company received the Greenfield status under the Automotive Development Policy (ADP 2016-21) in March 2018 and has since been looking to grab an opportunity to enter the country’s car market.
Back in May, Sazgar informed that it has decided to commence import, market, sell and provide after-sales services of Completely Built Up (CBU) vehicles under the brand name HAVAL. In this regard the company started booking of these vehicles from its authorised dealership network.
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