The Auto Policy 2016-2021 was met with great enthusiasm both by local assemblers and foreign manufacturers. Mainly due to the reason, that flexibility was made in the auto policy. This was looked upon as an opportunity by a number of players in the auto industry. Therefore, right after the announcement, numerous top-notch brands started their fate in Pakistan. According to the latest news circulating in the market, two more companies are soon to try their luck in Pakistan. These two companies are Beijing Automobile Works (BAW) and Lifan Motors. Currently, these companies are located in neighboring country China. These are Chinese companies who are in the business for several decades. BAW is in the market since 1953 whereas Lifan Motors started their operations back in 1992. Therefore, the companies are trusted and reliable. Also, they enjoy quite a good reputation in the local market.
Moreover, most probably Beijing Automobile Works (BAW) and Lifan Motors are next in line to set up their plant. The request has been submitted by the companies showing their keen interest to enter the market.
However, both the companies will be working in collaboration with other companies for the time being. BAW has entered a venture with Chevrolet Cavalier Autos and the agreement has been signed. The company will be introducing double cabin pickups, light commercial vehicles, and SUVs in Pakistan. Whereas Lifan collaborated with Pak China in order to start its venture in Pakistan.
Lifan and Beijing Automobile Works (BAW) have submitted their request to Ministry of Industry and Production. Also, the companies have requested for Greenfield status. The Greenfield Status helps the manufacturer to acquire additional perks and benefits which particularly help to cut cost. Currently, there are approximately 8 manufacturers who have managed to acquire this status.
The new manufacturers and assemblers entering the Pakistan market is indeed fruitful. It is not only going to break the monopoly of local manufacturers but will also increase the benchmark for quality. At the same time, the economy of the region can heavily benefit from this exchange. Finally, one can hope that may be the nation will be able to acquire some good cars at the low price range. Also, one can hope to get hands on some exceptional quality and luxurious cars.