Greenfield Status Issued to KA Hanteng Motor

KA Hanteng Motor Company Pvt Ltd has been awarded category-A Greenfield Investment status. KA Hanteng Motor Company has joined hands with a renowned Chinese car maker Hanteng Automobile Co. Ltd., to start manufacturing passenger cars & SUVs. They will set up a manufacturing Plant in Pakistan with a capacity of 15,000 units per year. The company plans to introduce Hybrid cars & SUVs in near future. The joint venture agreement which was signed in May this year in Shangrao, China also covers technology transfer, production of electric & hybrid vehicles. This is an encouraging development because it will generate competition in the automobile market which will result in better products and probably reduction in the overinflated prices of cars.

According to the notification KA Hanteng Motor, will strictly adhere to the conditions laid down in Notifications No. 2(9)/2013-LED-II dated 2nd June, 2016.