Sorry folks, unfortunately for all those eagerly awaiting Renault’s entry into the automotive sector, is a dream which has been crushed, for now, that is. The French automotive manufacturer has suspended its talks with Ghandhara Nissan Ltd (GHNL).
The brand was in plans to make an investment of around $100 million in a joint car manufacturing venture, however, due to commercial reasons, the talks have been suspended.
On the other hand, Nissan has been in talks with Ghandhara Nissan, GHNL added “They, however, shared their view that Pakistan is an alliance project and they aim to select only one partner for Renault and Nissan models in Pakistan,”
Renault had plans to set up a plant in Karachi for the launch of fuel-efficient and roomy sedan cars. The investment would have also created job opportunities for the youth.
The GHNL on Friday confirmed that proposed joint venture with Renault was called off. “As far as talks with Renault are concerned, please be informed that GHNL, in collaboration with a potential partner, was in talks with the alliance (Renault plus Nissan). However, owing to commercial reasons, GHNL’s arrangements with the potential partner could not materialize,” said GHNL Company Secretary Sheharyar Aslam.
We hope they sort out the differences and find a way to launch the foreign within the country in the upcoming months.