Sino-Pak joint venture launches locally assembled car

LAHORE, Feb. 2 (Gwadar Pro) – A locally assembled 800cc passenger vehicle, Pearl Prince, was launched recently in Pakistan by a joint venture between a local automobile company Regal Automobiles Industries Limited (RAIL) and the Chinese automobile company Dongfeng Sokon (DFSK). 

According to the Express Tribune, the joint venture officials said, this car would be the country’s most affordable variant in the category of 800cc cars.  

“This is the first time that a local company has taken a step forward to contribute to the country’s economy while making sure customers get high-quality product at an affordable price,” said Regal Automobiles Managing Director Muhammad Adeel Usman.

“Consumers will lead the automotive market in the next decade as they will now have diverse options unlike previous decades where few Japanese car manufacturers dominated the market,” Usman said.

The local partner of the joint venture has invested Rs1.5 billion to establish an assembly plant near Lahore with annual production capacity of 15,000 units.

According to the company, the total number of units sold so far in Pakistan is close to 3,000. “We are currently using 20 percent local components and we plan to increase this number to 80 percent by next year,” said the MD. The 800cc variant would be priced at Rs1.05 million.

Regal Automobiles Industries Limited was established in 2017 as a technical venture between DFSK, a renowned Chinese brand and RP Group, one of Pakistan’s most prominent business conglomerates to manufacture and market Prince vehicles in the country.