New Car Makers Extend Footprints In Pakistan.

French carmaker Renault announced last week that it is entering the Pakistani market. The company said it had signed definitive agreements with Al-Futtaim, a Dubai-based firm, for “exclusive assembly at a new state-of-the-art plant in Karachi and distribution of Renault vehicles in Pakistan”.

The two partners expect the plant will be built starting the first quarter of next year. Car sales are planned to start in 2019, ramping up in 2020.

Renault said the company aims to become a major player in Pakistan, bringing its latest products and cutting-edge technology to set new benchmarks of safety and quality. Indeed, Pakistan offers a huge opportunity to carmakers as demand for cars and commercial vehicles is growing at an annual rate of more than 10 per cent.

Two Korean brands — Kia and Hyundai — have already partnered with Younus Group and Nishat Group to set up their plants for starting local assembly of their cars by 2020.