Volkswagen Group has now signed an agreement with Premier Motors Limited to start assembling its passenger cars and SUVs in the country.
Premier Motors Limited has announced in an official statement that it will build a car park in Hub, Balochistan, where Volkswagen and Skoda cars will meet at the Pakistani car market.
The company began building the facility in July, with an annual production of 30,000 vehicles a year. It also brought AKD Securities to the board as a third-party financial adviser to ensure the closure of the corporate space project, at which point, the consortium set aside $ 100 million.
About three months ago, it emerged that the Skoda Motors team had met with the Pakistani ambassador to Prague and expressed interest in entering the Pakistani market.
The ambassador briefed the company's representatives on the latest developments in the car market in Pakistan. Delegates had acknowledged the progress made in recent years and expressed determination to be part of the fast-growing Pakistani market.
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