Karachi: Honda Atlas has planned an expansion project to increase its production of motorcycles to 1 million units annually with the projected investment of $50 million in coming years.

 This was stated by Chief Executive Atlas Honda Saquib Shirazi on the inaugural of new plants of the company that has increased production capacity of company from 600,000 units to 750,000 units a year with the investment of $35 million.

 Besides having 94% localization of our brands, our exports have doubled this year to around 20,000 units, while we are hopeful to achieve our export target of 100,000 units in next three to five years.

 The enabling environment provided by the government was instrumental in the phenomenal growth of this sector even during the periods of economic recession, he said.

 The company is the market leader in the year 2000 and is still enjoying the same position with eight times increase in the production of units, CEO said. AHL believes in fair competition, and this is the reason the prices of motorcycles are stable.

 On the occasion, Chairman Federal Board of Revenue (FBR) Mumtaz Haider Rizvi said the government will support the manufacturers through prudent policies and encourage them to enhance the capacity and transfers of technology which will not only benefit local consumers but also increase exports of “Made in Pakistan” motorcycles.

 I am looking forward to Atlas Honda’s next landmark of achieving production and sales targets of 1 million motorcycles a year, as it will be a direct support to achieve FBR’s revenue collection targets, he added.

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