To achieve the target, the company has put on hold its earlier announced expansion plan for three-wheelers, stated a notification sent to the stock exchange on Wednesday. The company intends to set up a brand new car plant under the Greenfield Investment Category that has already been announced in the five-year Automotive Development Policy (ADP) 2016-21. The new auto policy, announced in 2016, has attracted many new players to the automobile industry. “The production of auto rickshaws will continue at the existing production facility of the company and the growing market demand of the auto rickshaws shall be met by increasing the production hours of these facilities,” Mahmood said. The company had marked the available land for expansion of three-wheelers, which may now be utilised for the four-wheelers plant.

Source: The Express Tribune January 04, 2018 04:36 UTC