Changan, Chinese automobile manufacturer, will collaborate with Master Motors Corporation Limited or MMCL, to produce trucks and busses in Pakistan.
Changan MMCL joint venture will do the commercial production of cargo trucks and passenger buses in Pakistan. However, Changan will invest $100 million in collaboration with MMCL.
Danial Malik, Master Motors CEO, said that the Foreign Direct Investment or FDI is coming through Chinese firm. However, he revealed the news at the inauguration ceremony of MMCL’s first 5S facility and showroom in Karachi.
Danial Malik further added that the Completely Built Units or CBU of M9 pickup and Changan Karwan van are now arrived Pakistan and the bookings are already in process.
MMCL assembly plant at Port Qasim will begin the production of Changan vehicles from February 2019. However, the company will also invest around $15 million in Iveco Trucks, the Italian brand.
On the other side, the Italian organization performed all essential checks and certified MMCL plant as the authorized assembler.