Volkswagen, Skoda premium cars on the roads by mid-2023

MG News | October 01, 2021 at 11:15 AM GMT+05:00

0:00

October 1, 2021 (MLN): Premier Motors Limited (PML), a license assembly partner of the German auto giant, Volkswagen Group, will launch Skoda Crossovers, SUVs and Volkswagen premium cars in Pakistan which are expected to be on the roads by mid-2023.

In the light of the agreement-signing ceremony, PML has appointed AKD Securities as its financial adviser for achieving the financial close of its completely knocked-down (CKD) assembly project in Pakistan.

“Volkswagen Group, known for its attention to detail and emphasis on product safety and quality, plans to enter CKD assembly with Premier Motors Limited in a cutting-edge, fully integrated production plant,” said the PML in a statement.

The plant is situated in Hub, Balochistan with a capacity of 30,000 vehicles per annum. Construction began in July 2021 and is progressing rapidly.

The project is expected to cost $100 million. PML has already ventured into the automobile business through its parent company, Premier Systems (Pvt) Ltd., the sole importer and authorized dealer of Audi AG in Pakistan since 2006.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	163,806.22 500.44M	-0.39% -638.50
ALLSHR	99,845.79 1,977.49M	-0.42% -417.42
KSE30	50,123.85 153.24M	-0.68% -343.31
KMI30	238,530.50 71.49M	-0.36% -850.63
KMIALLSHR	65,898.10 543.80M	-0.37% -245.35
BKTi	46,380.96 92.15M	-0.49% -229.01
OGTi	31,857.40 12.33M	-1.20% -387.93

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	107,220.00	109,470.00 103,745.00	-1225.00 -1.13%
BRENT CRUDE	61.34	61.47 60.14	0.28 0.46%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.00 -1.23%
ROTTERDAM COAL MONTHLY	93.20	93.50 93.20	0.05 0.05%
USD RBD PALM OLEIN	1,085.00	1,085.00 1,085.00	0.00 0.00%
CRUDE OIL - WTI	57.25	57.32 56.15	0.26 0.46%
SUGAR #11 WORLD	15.53	15.88 15.45	-0.27 -1.71%