French car maker Renault to launch five new models in Pakistan

06:52 PM | 11 Sep, 2018
French car maker Renault to launch five new models in Pakistan
FAISALABAD – French auto manufacturer Renault is gearing to launch its five vehicle variants by June 2020 in Pakistan.

Renault, which is setting up a plant in Faisalabad spreading across 54 acres, has partnered with Dubai-based conglomerate Al-Futtaim to manufacture and assemble the vehicles in the South Asian country - which is dominated by Japanese auto sector.

Al-Futtaim Renault Pakistan is investing $140 million for this mega project. The Renault auto plant will have an installed capacity of 50,000 vehicles per annum.

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The arrival of five new variants by the top automaker will provide Pakistani buyers with additional options to choose from.

The industrial land acquired by Al-Futtaim Renault Pakistan is situated at M-3 industrial city in Faisalabad Industrial Estate Development and Management Company (FIEDMC).

Al Futtaim-Renault wants to establish itself as one of the leading automakers in Pakistan through smooth sales of its cars. This will not just boost the auto sector of Pakistan but also create job opportunities in the country & enhance the economy.

The French car giant is expected to bring the latest cars and technology to the country’s automobile sector in an effort to break the monopoly of three dominant Japanese assemblers Suzuki, Toyota, and Honda.

Al Futtaim-Renault is aiming to be a major car assembler in Pakistan and will set up a dealership network for the smooth sale of its vehicles across the country.

Renault cars are expected to land in the market by June 2020 and display office of Al Futtaim-Renault may be set up by end of next year, since work on many premises has started in various cities across Pakistan.