After announcing the news of establishing a new automotive plant, Master Motor Corporation has announced the launching of 3 vehicles in partnership with Changan.
These vehicles are expected to be launched in the coming weeks. Reports suggest two of the three are pickups M8 and M9 and the MPV Karvaan.
The reports also suggest that the Karvaan, M8 and M9 are expected to be priced at expected to cost Rs. 1,000,000, Rs. 850,000 and Rs. 900,000, respectively.
The Karvaan is powered by a turbocharged 1.5-litre unit that churns out an impressive 110kw (148hp) of power at 5500rpm and 230Nm of torque at 2000-4000 rpm. Fuel economy is rated at 7.6 litres per 100 km (13.2 km/ litre). The engine is mated to either a 6-speed manual or a 6-speed Aisin automatic gearbox.
Changan took advantage of the opportunity after local brands like Honda and FAW consecutively raised prices on their vehicles due to the devaluation of the rupee against the dollar.
It is expected that this move will bring in an investment of $200-300 million in the country. Both Master Motor and Changan came into an agreement back in June, after which they had made a joint-announcement to launch of four vehicles in Pakistan very soon.
The facility will have an initial capacity of 30,000 units a year, the Chief Executive Officer (CEO) Danial Malik told reporters on Friday.
“The joint venture is meant to tap Pakistan’s auto market as well as export right-hand vehicles to SAARC and ASEAN countries especially Malaysia and Indonesia,” said Danial.
Pakistan’s Auto Development Policy 2016-21 has been credited for paving way for new entrants.
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