BEIJING: Chinese automobile company has set up a local manufacturing project with long-term development considerations in Pakistan based on country’s huge potential market size, supportive polices for attracting foreign automobile investors and opportunities brought by China-Pakistan Economic Corridor (CPEC).
This was stated by Felix Hu, country director of Chery Automobile in Pakistan in a recent interview.
Chery launched its new RHD strategy in 2019 and selected seven countries as key potential markets for RHD, including Pakistan. It has partnered with Ghandhara Nissan Ltd to invest Rs. 2.4 billion in Pakistan’s production of Tiggo Series SUVs in January 2021.
Feliex revealed that Chery is promoting the listing of the company in Pakistan next month. It will continue to focus on the Pakistani market and satisfy the local consumers. The company also plans to export from Pakistan to other RHD countries in the near future, CEN reported.
At present, Chery Automobile’s products include saloon cars and SUVs. Choosing to manufacture SUV models in Pakistan is based on the fact that the global consumption trend is upgrading from cars to SUV, SUV is more suitable for Pakistan’s road conditions, and Chinese companies are competitive in the SUV market segment.
Felix said that SUV is a strategic choice according to Chery’s initial development plan in Pakistan, and more models will be launched as the company deepens cooperation and gets more feedback from the market.
As one of the largest automobile exporters in China, compared with other manufacturers such as Hyundai, MG and HAVAL, Chery’s entry to RHD markets including Pakistan is relatively late.
The reason for this, Felix explained, is to make sure that their products are the latest models for RHD markets, rather than some old generation models. Felix believes that the future trend of the automobile industry is electrification and intelligence.
“Echoing Pakistan’s EV policy, Chery has also developed a new energy vehicles plan, including EV, PHEV, FCVE, REEV for RHD markets. Felix underlined, Chery is preparing to introduce the latest versions that have not even been launched in China to the Pakistani market.
Automobile cooperation is another representative sector of industrial cooperation under the second phase of CPEC. Felix termed China-Pakistan automobile cooperation a win-win choice, new Chinese automobile entrants in Pakistan will bring more options to local customers, who will eventually benefit from this fierce competition.
New technologies and management methods will also enhance the capacity of the local automobile industry. Products and brands from China are being accepted by more and more consumers in Pakistan and other RHD countries. Felix is full of confidence in China-Pakistan automobile collaboration.