Volkswagen, Premier Motors sign CKD assembly contract
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KARACHI: Pakistan Premier Motors Limited (PML) has signed the final legal agreement with the largest automotive group in the world, Volkswagen (VW) AG, for manufacturing of commercial vehicles on November 7.
The agreement has been signed for manufacturing of commercial vehicles under the licensing contract of a completely knocked down (CKD) assembly in Karachi — a major breakthrough in the automotive sector of Pakistan.
This venture will prove to be a great addition in the automotive sector of Pakistan and would help fill the gap of vehicle supply in the country.
The Commercial Section, Berlin, has been actively engaged with the VW and PML for the last two years and especially since signing of a letter of intent (LOI) on June 22, 2017.
The company has decided to influx investment in Pakistan. The Board Member of Management of German Automaker Volkswagen Dr. Joseph Baumert met the premier at his office, and the premier assured him that the government would make sure that the company gets all the facilities and help it needs.
After the Auto Policy 2016-21, many foreign automakers have collaborated with local companies to build vehicle manufacturing plant in Pakistan. The government strives to facilitate the new entrants in every possible way.
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