LAHORE: Atlas Honda Limited, in a bid to escalate manufacturing, has announced to invest $100 million to expand its motorcycle operations across the country.
The famous Auto company Atlas Honda in association with Honda Motor Company has publicised its intentions on Friday during a meeting of its board of directors, which endorsed a three-year expansion plan.
The existing 0.6 million units of the capacity of Sheikhupura factor would be increased to over 1.2 million units per annum under the scheme.
To carry out the installation to fulfill the objectives, an investment of around $5o million would be made by Atlas Honda, while 430 million would be provided by collaborated companies and in addition to that $20 million would be added by the company’s parts suppliers.
The new line produced motorbike would be showcased in the market by the beginning of October 2016 and the expansion would lead to the production of 1,800 direct jobs while associated companies and parts manufacturers would generate 5,000 jobs.
When the expansion is done, the total capacity of assembling of the company would climb to more than 1.3 million units per annum.
Meanwhile, Atlas Honda Chief Executive Officer Saquib H Shirazi said the company foresaw demands for motorcycles to rise steadily after the improved outlook of the economy.
“With a youthful population and fast changing customer sentiments, the company is excited to expand its model line-up with consistent focus on quality, technology and localisation,” said Shirazi.