ISLAMABAD : Dewan Farooq Motors Ltd (DFML) has applied for revival of their plant situated in Sujawal under the incentives given for revival of closed units in the Automotive Development Policy (ADP) 2016-21.
In a meeting recently held between the Board of Investment (BOI) and Engineering Development Board (EDB), Dewan Motors has submitted a plan for local production of DAEHAN, SsangYong and KIA vehicles.
The meeting held to discuss the investment plan was chaired by Miftah Ismail, Chairman BOI and the Minister of State that was also attended by Secretary BOI, CEO EDB, officials of DFML.
The revival will mainly commence with re-launch of Shehzore 1-tonne single rear wheel Truck with Hyundai Powertrain in September 2016 followed by Shehzore 1-tonne Truck with dual real tyre in October 2016.
The plan submitted by the Dewan Motors said that the company will introduce 1.5-tonne Shehzore Truck and a 1600cc Specialized Utility Vehicle (SUV) in collaboration with SsangYong China in 2017.
The company also plans to launch passenger cars, light commercial vehicles and SUVs in collaboration with KIA Motors Korea within next three years. Dewan Group has also finalized agreement with SsangYong Motors Company, fourth largest automobile manufacturer in South Korea. DFML’s negotiations with KIA Motors, which is a part of HYUNDAI MOTOR GROUP, are at an advance stage for local production of KIA range of vehicles in Pakistan.
The EDB has started processing the case for re-launch of DFML and says that competition in the local car market will increase as a result of launch of KIA cars in the country again.
Published in Dawn, August 11th, 2016