ISLAMABAD: Ruba SEZ Group, one of Pakistan's biggest investors mainly in the field of automobiles, tyres and tubes, has announced to launch 800cc hybrid cars in Pakistan by the end of 2014.
Its arrival will revolutionise the automobile sector in the country as the car has the capability to run 400 km on one battery charge of eight hours.
At current rates, it will cost the consumers 20 paisa per km, The Technology Times Reported.
Our plan is to produce 50,000 small hybrid cars initially. We will expand our capacity based on consumer demand.
We have 70 per cent equity in the project while 30 percent equity comes from Shifieng Group, the largest automobile producer in China," said Shah Faisal Afridi, the President of Ruba SEZ Group.
He also said that the company has already introduced the first EURO II compliant tractor in Pakistan. Despite better and clean technology, its price is the same as that of tractors already being manufactured in the country.
"In the first year, we expect to market 3,000 tractors on low localisation.
However, within a year we aim to achieve 80 per cent localisation and increase production capacity to 15,000 units," explained Faisal.
The company aims to increase its capacity to 40,000 units in the next few years and target export markets, he maintained.
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