Honda Atlas Cars Pakistan Limited (HACPL) has announced to invest Rs. 5 billion in a cutting-edge hybrid vehicle production facility in Pakistan. This investment will support the local manufacturing and assembly of hybrid electric vehicles (HEVs).
The hybrid vehicle market in Pakistan is heating up, with brands like Toyota, Haval, and Hyundai already offering their models. Honda Atlas’s entry is expected to make the competition more dynamic, as Honda is well-regarded in Pakistan, particularly among younger drivers who appreciate its comfort, design, and reliability.
The new hybrid facility will enable Honda to provide HEV models of both current and upcoming vehicles at more competitive prices. This investment supports Honda’s commitment to sustainable mobility by promoting economic growth, cutting carbon emissions, and boosting competitiveness through the local production of HEVs.
On the other hand, in its financial report released on the Pakistan Stock Exchange, Honda Atlas revealed a 40% increase in after-tax profit, reaching Rs. 202.63 million for the quarter ending June 30, 2024, up from Rs. 144.96 million the previous year.
This surge is attributed to a remarkable 324% jump in sales, totaling Rs. 15.97 billion compared to Rs. 3.77 billion in the same period last year. The company reported a gross profit of Rs. 1.01 billion for the first quarter of FY25.