The competition in the domestic commercial vehicles segment is expected to increase as the Chinese auto giant Foton has shown interest to invest in the manufacturing of commercial vehicles in Pakistan.
A 5 member delegation of Foton China led by Vice President of Foton Group Ye Zhaoyou, Zhang Jun, Perry Blackerby, Liu Liran, Xu Qingli and Zhao Bin called on the Chairman Board of Investment (BOI) Saleem H. Mandviwalla. Vice President of Foton Group said that memorandum of understanding (MoU) to supply 200 to 300 CNG/LPG buses has been signed with Sialkot Chamber of Commerce and Industry.
These buses have started operating city to city and inter city routes.
Lahore Transport Company has also made an agreement with Foton for getting CNG buses under which this company will provide 111 CNG buses within next few months. He said CNG city and inter-city buses were both designed and engineered in USA and custom-made in China according to the specification and requirements. Chairman, BOI appreciated the interest shown by the Foton and said that the government is also fully encouraging investment in transport sector.
Foton to set up automobile manufacturing plant in Pakistan
