Renault vehicles to be assembled, distributed in Pakistan

ISLAMABAD: Groupe Renault and Al-Futtaim Monday announced that they had signed definitive agreements for the exclusive assembly and distribution of Renault vehicles in Pakistan.

Groupe Renault would bring its latest products and technological know-how, whilst Al-Futtaim, through its new subsidiary Al-Futtaim Automotive Pakistan (Private) Limited, and establish a new manufacturing and assembly plant, and exclusively distribute Renault cars through its extensive knowledge of the market.

Al-Futtaim has built considerable strength and credibility in delivering great customer experiences through its numerous businesses across 29 countries.

Al-Futtaim global automotive operations extend to 11 markets across the Middle East, Africa and South Asia, and Pakistan represents one of the most dynamic opportunities in these regions, in particular due to the new Automotive Development Policy.

The parties expect that the plant will be built starting the first quarter of 2018 in Karachi as per Groupe Renault standards, and car sales are planned to start in 2019, ramping up in 2020. “Groupe Renault is delighted to extend its international footprint by entering Pakistan, a fast-growing market with a 10% annual growth rate,” Senior Vice President, Chairman of the Africa Middle-East India Region of the Groupe Renault Fabrice Cambolive said.

Cambolive said by partnering with Al-Futtaim, a very professional and renowned automotive partner, Groupe Renault aimed to become a major player in Pakistan “We aim to bring our latest products and cutting-edge technology and set new benchmarks of safety and quality in the market,” Cambolive added.

President of Al-Futtaim Automotive Len Hunt said with a population of over 200 million, a fast-growing economy and a vibrant middle-class, Pakistan was undoubtedly a very important strategic growth market for us.

“We are very excited to represent Groupe Renault which is among the top automotive brands worldwide, and a leading European car manufacturer entering this market, Hund added.

“We will endeavor to add real value to the Pakistani auto sector and consumer, and to create a world-class organization in Pakistan while Al-Futtaim also looks forward to a very long and successful partnership with Groupe Renault," Hunt added.