Master Motor, Yutong ink MoU to assemble buses in Pakistan

WEB DESK: Master Motor Corporation and Yutong Bus Company have signed a Memorandum of Understanding (MoU) to establish a joint venture for the local manufacturing and assembly of Yutong’s new energy city buses in Pakistan.

This collaboration marks a significant milestone in the country’s public transportation sector.

Under the agreement, Yutong Master will set up a new Greenfield plant dedicated to the production of these city buses, becoming the first and only company to manufacture such vehicles locally. Yutong’s new energy city buses, available in both hybrid and electric powertrains, are designed to meet the public transport needs across Pakistan, aligning with government initiatives to modernise the transportation infrastructure.

The MoU was signed by Danial Malik, Director of Master Motor, and Huang Yuanchao of Yutong, during the Pakistan Shenzhen Business Conference on June 5, 2024. The event, held during Prime Minister Shahbaz Sharif’s visit to China, aimed to foster new business opportunities and stimulate economic activity in Pakistan.

Key attendees at the signing included Jam Kamal, Minister for Commerce; Rana Tanvir Hussain, Minister for Industries and Production; Abdul Kaleem Khan, Minister for Privatisation; Syed Zafar Ali Shah, Secretary Planning and Development; and Erfa Iqbal, Additional Secretary, Board of Investment.

This venture is expected to significantly enhance Pakistan’s public transportation capabilities and contribute to the nation’s economic growth.

Read next: New taxes announced for real estate developers, builders