The Swedish company’s entry into Pakistan would not only strengthen its business, but would also go on to support the country’s growth and progress on the socio-economic front by creating multifarious employment and business opportunities. PHOTO: REUTERS
LAHORE: Encouraged by a huge investment potential in Pakistan’s rapidly growing automobile market, renowned Swedish heavy commercial vehicle manufacturer Scania has announced that it will introduce its premium trucks, truck-tractors, buses and coaches in the South Asian country through a local distributor.
Auto parts: Industry looks for joint ventures with Thailand
Later, the company will explore the potential of setting up a manufacturing plant in Pakistan. The European manufacturer has signed an agreement with Yousaf Dewan Companies and awarded distribution rights for introducing its products in Pakistan market.
Scania Executive Vice President Sales and Marketing Christian Levin and Yousaf Dewan Companies Chairman Dewan Muhammad Yousuf Farooqui inked the distribution agreement recently in the presence of top officials of both companies and renowned customers of heavy commercial vehicles.
“We are delighted to introduce our quality trucks and buses in Pakistan,” said Levin. “Pakistan is quickly emerging as a preferred investment destination in the world; the automotive industry, in particular, sees a lot of investment potential in the wake of China-Pakistan Economic Corridor (CPEC).”
Levin elaborated that the vision behind introducing Scania products was to explore the full potential of Pakistan market by raising the bar higher for competition.
The Swedish company’s entry into Pakistan would not only strengthen its business, but would also go on to support the country’s growth and progress on the socio-economic front by creating multifarious employment and business opportunities.
“We are committed to expanding our investment and will explore the prospects of manufacturing our products here in Pakistan,” he revealed.
Scania is a major Swedish manufacturer of commercial vehicles, specifically heavy trucks and buses. The company was founded in 1891 in the Swedish province of Skane and its head office has been in Sodertalje since 1912.
Today, with 125 years of rich experience in the global automobile industry, Scania has operations in 100 countries around the world and employs approximately 42,100 people.
“I believe it is opportune time for Scania to enter Pakistan market as our economy is growing by leaps and bounds, especially the truck and bus sector is witnessing unprecedented exponential growth,” commented Farooqui, Chairman of Yousaf Dewan Companies.
He insisted that stable policies of the government were playing a major role in the revival of automotive industry in Pakistan. As a result, the truck and bus market is currently experiencing unprecedented robust growth - a barometer for deep-rooted economic expansion.
Furthermore, CPEC was bringing an investment of $57 billion in energy and infrastructure projects and was creating a shift in the demand for high-speed, high-power, fuel-efficient, long-haulage solutions, Farooqui added.
German truck maker MAN SE to set up assembly plant in Pakistan
Yousaf Dewan Companies has been providing automobile solutions for close to two decades now. It is already associated with renowned brands like BMW and Mitsubishi.
It has also assembled Hyundai and Kia completely knocked down (CKD)-based products in the past. Now, it intends to cater to the needs of heavy commercial vehicle customers by joining hands with Scania.
Published in The Express Tribune, June 8th, 2017.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
COMMENTS (4)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ