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Hyundai Motor plans to set up a auto assembly plant in Pakistan in a joint venture with regional textile company Nishat Mills, a representative from Nishat stated on Friday.
Hyundai’s return to Pakistan will improve the government’s efforts to shake up the Japanese-dominated vehicle market and loosen the dominance of Toyota, Honda and Suzuki, who assemble vehicles in Pakistan with regional partners.
Hyundai and Kia Motor assembled cars in Pakistan until 2004 however withdrew after their regional partner Dewan Farooque Motors Limited folded.
It was unclear how much capital Hyundai, South Korea’s biggest car maker, would itself invest in the Pakistani venture.
Representatives for Hyundai were not available for comment.
