The once dubbed ‘Kia Lucky Motors Ltd.’ has apparently decided to go with aname change. Evidently, this new name has been devised with the purpose ofexpansion in mind, as ‘Lucky Motors Ltd.’ are set to start offering Peugeotcars in Pakistan soon.
Reportedly, Lucky Motors Ltd. signed an expression of interest (EoI) and amemorandum of understanding (MoU) with the Groupe PSA of France in mid-May.As per the mutual agreement between the 2 entities, Lucky Motors Ltd. shallassemble, manufacture, market, distribute and sell PSA passenger cars andlight commercial vehicles in Pakistan.
For the unaware, Groupe PSA is a large French-based multinationalconglomerate that owns various automakers such as Peugeot, Citroën, DS,Opel, and Vauxhall. Peugeot is the largest PSA automaker in the entireEuropean region.
As per further reports, CEO Lucky Motors Ltd. Asif Rizvi told a mainstreammedia outlet that Lucky Motors Ltd. has already appealed to the Board ofInvestment (BoI) for ‘category A’ greenfield investment status as per theAuto Development Policy (ADP) 2016-21. He also told the media that GroupePSA is expected to execute the necessary definitive agreements within thenext couple of months.
Rizvi further shared that the plan is to have the European vehicles arrivehere in the CKD form so that they can be assembled locally to decreaseexpenses for both, the consumers and for the company.
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ProPakistani managed to gain some deeper insight into the development viaan anonymous internal resource, whereby it has been reported that Peugeotshall be arriving in Pakistan soon and the company will manufacture andsell light commercial vehicles in Pakistan to start with. More additions tothe lineup shall come at a later stage.
Furthermore, the industry sources have also reported that Lucky Motors Ltd.is not too keen on bringing the new Kia Cerato Sedan to Pakistan anytimesoon. It is pertinent to mention here that the reports pertaining to theCerato Sedan are based on conjecture and there is no solid confirmation ofthese reports from an internal source at the moment.
However, it’s also worth considering that Kia has mainly been silent aboutany such development, which prompts the thought that maybe the new Ceratois not coming to Pakistan after all. Whether or not that is the case, onlytime will tell.
