MG Motor Pakistan And SAIC Motor Announce Huge Investment Of $20 Million In Lahore’s MG Plant To Expand Vehicle Manufacturing Plant
According to Startup Pakistan, in a major vote of confidence in Pakistan’s outlook and industrial potential, MG Motor Pakistan has decided to invest $20 Million in its MG Plant in Lahore to expand the plant.
The expansion includes but not limited to introduction of advanced automated technologies, and increased product line-ups through the launch of new vehicle models.
CEO of MG Motor Pakistan, Mr Shao JianQiang expressed confidence in Pakistan’s evolving economic potential in his statement: “This investment reflects our long-term confidence in Pakistan’s economic potential and its rapidly evolving automotive ecosystem,”.
Despite Pakistan’s “shrink-flating” economy, debt crisis, inflation and economic shocks from the Iran War, the automative industry continues to survive and thrive, marking its resilience as a key factor for investor confidence, thereby experiencing increased Foreign Direct Investment (FDI) despite economic challenges.
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