The German automobile manufacturer Volkswagen (VW) AG announced its entry in the automotive industry of Pakistan.
Volkswagen in Pakistan is becoming a reality as they signed CKD assembly deal with PML or Pakistan Premier Motors Limited. Volkswagen signed the contract with Pakistan Premier Motors Limited (PML) for completely knocked down (CKD) assembly in Karachi.
PML made the final legal agreement with Volkswagen (VW) AG, which is the largest automobile group in the world. However, the agreement is for the manufacturing of commercial vehicles in Pakistan.
Industry analysts are considering it as a significant breakthrough in the automobile industry of Pakistan. However, it will prove to be the great thing in the Pakistan’s automotive industry. In addition, it will also assist to fill the vehicle supply gap in Pakistan.
According to sources, in June 2017, both companies first signed the letter of intent (LOI). After that, a hype has been created in the industry about the arrival of German automaker. However, after the long wait of over a year, Volkswagen finally decided to bring its products and investment in the country.