Al Haj Group and Hyundai entered into a joint venture this Thursday to roll out heavy vehicles. The venture is a technology transfer contract (TTC). Under the agreement Al Haj will locally manufacture and sell a number of heavy vehicles for the increasing demand in the local market.
The venture is aimed at tapping the needs that are being forecasted by the automakers, who say that Pakistan will experience 4% of world trade to pass through its borders enhancing the demand for heavy vehicles. Al Haj under the initiative will introduce; XCIENT, a heavy duty truck, UNIVERSE luxury buses, MIGHTY medium and light duty trucks. In the second phase Hyundai aims to introduce various other products such as Cargo and Passenger handling segments.
AL HAJ HYUDAI also plans to construct a state-of-art manufacturing and assembly plant in Pakistan. The land for aforementioned project has been bought at National Highway near Steel Mills. The first phase pf plant will be operational from May 2018.