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Pakistan's largest rickshaw maker Sazgar got the government's greenfield status for the production of Hawal H6 and Julien.
The company has already announced the prices of its two new vehicles, with the 2,000 cc H6 priced at Rs 6.3 million and the 1,500 cc Turbo Julien priced at Rs 5.52 million. Both vehicles are in the 5 seater crossover SUVs category such as Kia Sportage, Hyundai Tucson, Proton X70, DFS Glory 580, and MGHS.
The Pakistan Stock Exchange has issued a notification to the favorable company to get greenfield status, under which new car manufacturers get other benefits including tax exemption.
The favorable company had decided to enter the Pakistani car market in collaboration with Chinese carmaker BAIC. She said she would launch a D20 car with both hatchback (sedan) and sedan models. They also plan to introduce the X25 crossover and the BJ40-Plus off-road SUV in the future.
According to the company's website, Hawal is the largest seller of SUVs in China, surpassing Hyundai and MG Motors. It is a subsidiary of Great Wall Motors, focusing on SUVs and pickups.
Sagar Pakistan is registered on the Stock Exchange, which exports three-wheelers to 20 countries, including Japan. Its annual production capacity is 24,000 units.
The industry initially expected new carmakers to acquire greenfield status by the end of this year (2021) to take advantage of the policy.
However, sources have now revealed that companies with greenfield status may seek permission from the government to bring in new vehicles even after the end of this year (2021). Under the policy, five-year tax benefits will not be available after June 2026, which means that vehicles introduced after June 2021 will not be able to get tax benefits for a full five years.