Kia Corporation signs contract with Lucky Motor for Cars & SUVs in Pakistan

Kia Corporation signs contract with Lucky Motor for Cars & SUVs in Pakistan

KARACHI: KIA Corporation, Republic of Korea has clarified that Lucky Motor Corporation (LMC) is the exclusive licensee of Kia to manufacture, assemble, market, distribute and sell Kia Cars and SUVs in Pakistan according to the General Agreement for Technical Collaboration and KD supply signed between both the parties.    

In his letter dated 9th November 2022, SooHang Chang, President, of Kia Middle East, and Africa further clarified that a contract recently signed by and between Kia’s “Special Vehicle Division” and Dewan Farooque Motors Limited (DFML) is limited only to special purpose commercial vehicles including PU (Bongo), and DFML is not and shall not in future be allowed to produce any other Kia cars and Kia SUVs in Pakistan as long as Kia and LMC maintain CKD business in Pakistan. 

“We would like to categorically state that LMC is a trusted long-term CKD partner for Kia Cars and SUVs in Pakistan as per the contract signed between both parties. Kia recognizes and appreciates the efforts LMC has put in to make the Kia brand a true success in Pakistan and we truly believe that with a long-term strategic business relationship between Kia and LMC, the Kia brand is bound to be one of the most successful brands in Pakistan in the very near future,” SooHang Chang added. 

The letter was addressed to Muhammad Faisal, President of Automotive, Lucky Motor Corporation Limited (LMC). It was with reference to the above matter and further to the recent notification by Dewan Farooque Motors Limited (DFML) to the Pakistan Stock Exchange regarding the signing of the Technology License Agreement between them and Kia Corporation.