Renault Signs A Deal To Make And Sell Cars In Pakistan From 2019


Renault has signed a definitive agreement with Al-Futtaim, a global automotive operations company that's present in 29 countries worldwide, to produce and sell vehicles in Pakistan.

As part of the arrangement, the French automaker will bring its latest products and technological know-how into the new market. Al-Futtaim, on the other hand, will have to establish a new manufacturing and assembly plant, and to distribute the brand's vehicles, through its new subsidiary, Al-Futtaim Automotive Pakistan (Private) Limited.

"Group Renault is delighted to extend its international footprint by entering Pakistan, a fast-growing market with a 10 percent annual growth rate", said the company's Senior VP and Chairman of Africa Middle-East India Region, Fabrice Cambolive. "By partnering with Al-Futtaim, a very professional and renowned automotive partner, Groupe Renault aims to become a major player in Pakistan."

"With a population of over 200 million, a fast-growing economy and a vibrant middle-class, Pakistan is undoubtedly a very important strategic growth market for us", added Al-Futtaim Automotive's President, Len Hunt. "We are very excited to represent Group Renault, which is among the top automotive brands worldwide, and a leading European car manufacturer, entering this market."

Renault and Al-Futtaim still have to finalize the transaction, as it remains subject to a number of conditions, most of which are related to relevant regulatory approvals from Pakistani authorities.

However, both parties expect work on the new facility to start in the first quarter of 2018 in the capital of the country, Karachi, while car sales should commence in 2019 and ramp up one year later.

Carscoops

Comments

Post a Comment

Popular posts from this blog

Limited Edition Ford GT 'Competition Series' Is All About The Track

Image
Ford's new GT Competition Series was built with weight-saving in mind, but also with an improved center of gravity for better road-holding. Among its features, you'll notice the lightweight carbon fiber racing stripes, A-Pillars and side mirrors, as well as the unique race-inspired Perspex acrylic engine hatch with integrated venting. Thanks to the manual latch and the carbon fiber prop rod, weight near the roof has been reduced, though Ford engineers went even further in their quest to make the car lighter, by making the bulkhead Gorilla Glass behind the driver about half as thick (and as light) as on other models. "The Ford GT has racing in its blood," said Ford exec Raj Nair, while adding that the Competition Series "was developed with the most hardcore track enthusiasts in mind, providing a tailored set of lightweight features and unique livery to match." There are also plenty of remaining performance features from the production car, such as
Read more

Alpine A110 Hits Geneva With Pure, Legende And GT4 Versions

Image
Renault’s reborn Alpine brand has been getting rave reviews for its new A110 and now, as promised, it’s revealed new versions of its coupe at the Geneva Motor Show. Following the success of the sold-out Premiere Edition, the A110 will now be offered in Pure and Legende trims. The A110 Pure is targeted at driving enthusiasts. It features one-piece Sabelt sports seats that weigh barely more than 13 kilograms (28.6 pounds) each and, combined with other weight-saving measures, helps keep the curb weight below 1,100 kg ( 2,425 lbs). It’s not entirely stripped out, though, and still comes with features like air-conditioning and satellite navigation. Buyers can also add upgraded Brembo brakes and an adaptive exhaust system and can upgrade to the adjustable comfort seats. Those come standard on the Legende model, which is geared more towards every day driving and grand touring and comes with leather upholstery. Customers can also choose between two Focal sound systems and two wheel
Read more

Volkswagen T-Roc Cabriolet Is A Crossover For Droptop Lovers

Image
Droptop crossovers have always been rather odd and the T-Roc Cabriolet is no different. It will be the only convertible Volkswagen on sale for the foreseeable future and will celebrate its public debut at the Frankfurt Motor Show in September. Rather than simply removing the roof of the standard T-Roc, Volkswagen has drastically altered the vehicle’s structure and body. In fact, its wheelbase is 37 mm longer than the standard T-Roc while its overall length is up by 34 mm. In addition, the Volkswagen T-Roc Cabriolet features structural strengthening in the underbody, side panels, cross members, doors, and windscreen frame to make up for the lack of a roof. The folding fabric roof developed by Volkswagen retracts in just nine seconds at speeds of up to 19 mph (30.5 km/h) and is similar in operation to the roof of the outgoing Golf Cabriolet. The presence of the soft top reduces trunk space by 161 liters down from the 284 liters of the run-of-the-mill T-Roc. We don’t think bu
Read more