Karachi: Al-Haj Group in partnership with Hyundai Motor Company (HMC) has decided to assemble different truck variants and luxury buses in Pakistan at an expected investments of Rs4 billion. The company has already purchased 30 acres of land outside Karachi as it aims to start production in the next 12 months. In Phase 1, Al-Haj Hyundai (Pvt) Limited, a separate company, will initially invest Rs1.5 billion through its own resources.
There are now four Chinese truck assemblers in Pakistan. Chinese truck assemblers claim that they have already grabbed up to 40% market share in a short period of 10 years while the rest is in the hands of well-established Japanese players who have historically dominated. The prices of Chinese trucks are in the lowest band. For instance, if a Chinese truck is available in Rs7.8 million it can go up to Rs12.6 million in the Japanese range. Price of a high-end European brand like Volvo goes up to Rs16.5 million, partly because they are not assembled in Pakistan.