Lucky Motors to Bring European Car Brand Stellantis To Pakistan
December 10, 2021 / By Zunair Tahir / News Pakistan
A license and technical support deal has been reached between the Stellantis Group and the Lucky Motor Corporation (LMC) Ltd.
Under the terms of the deal, the LMC has been given the right to assemble, manufacture, market, distribute, and sell the group’s passenger cars and light commercial vehicles in Pakistan.
As we know the Stellantis Car Brand but many of us have seen and heard Stellantis Brand name for the First time Stellantis is a European Car Manufacture and in Europe it is the 4th Largest Car Manufacture and its very Popular among European people.
The LMC and Groupe PSA, which is now part of the Stellantis Group, inked an MoU and expression of interest (EoI) in mid-2019. The LMC (then known as Kia Lucky Motors) alerted the government of its plans to work with Peugeot, a Stellantis Group brand, last year before obtaining the production license under the government’s new entrant program.
The Government is Imposing a Six-Month Ban on Imported Vehicles.
“Within the Automotive Development Policy (ADP) 2016-2021 timeframe, we propose to construct cars of a Stellantis Group brand at our production site in Bin Qasim Industrial Park (BQIP), where Kia vehicles are built,” stated LMC’s CEO.
He claimed the new European endeavor will cost €10 million, but he didn’t say whether any specific vehicles will be produced before the 2016-2021 Auto Development Policy expires on June 30, 2021.
It’s too early to tell how Lucky Motors will sell Peugeot vehicles in Pakistan. Is there going to be a new dealership network or will the existing KIA dealerships sell and service Peugeot cars? This is something that needs to be investigated. Perhaps the present KIA dealerships will also become Peugeot dealerships. This will save time, and an existing infrastructure will be able to accommodate two distinct brands of automobiles. It’s conceivable since dealerships can sell and service both brands if Lucky can build them.