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Honda Atlas Cars Pakistan Limited (HACPL) has announced an investment of Rs. 5 billion to establish a state-of-the-art hybrid facility in Pakistan. This strategic move will enable the company to manufacture and assemble hybrid electric vehicles (HEVs) locally.
The Pakistani car industry is currently buzzing with hybrid cars, as companies including Toyota, Haval, and Hyundai have already been selling hybrid vehicles. With Honda Atlas entering the market, competition will be interesting, given that Honda is a popular car brand in Pakistan, especially among the youth due to its comfort, design, and reliability.
The new hybrid facility will allow Honda to offer HEV Models of both existing and new models at more competitive prices. This investment aligns with Honda’s vision for sustainable mobility, generating economic growth, reducing carbon emissions, and enhancing competitiveness through market penetration with locally manufactured HEVs.
In its financial statement available at the Pakistan Stock Exchange, Honda Atlas posted a 40% increase in its after-tax profit, reaching Rs. 202.63 million for the quarter ending June 30, 2024, compared to Rs. 144.96 million in the same period of the previous year. This increase is attributed to a substantial 324% rise in sales, totaling Rs. 15.97 billion compared to Rs. 3.77 billion in the previous quarter. This resulted in a gross profit of Rs. 1.01 billion in the first quarter of FY25, underscoring the viability of the Rs. 5 billion investment in the HEV facility.
As we await Honda’s future launches, let’s see what the first locally assembled CKD HEV model will be.
