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

News Image

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 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg