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.
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