Korean automaker KIA’s vehicles had also been spotted on roads few times, it gave positivity to the idea that company would ultimately launch its vehicles here. On the other hand, many rumors were also flowing that KIA might not come to Pakistan, but all the argument and rumors have now been crushed since Lucky Motors has inked an agreement with Ministry of Industries and Production.
As per the details, KIA-Lucky Motors has inked an agreement with Ministry of Industries and Production for the manufacturing, assembling of passenger and light commercial vehicles under new auto policy 2016-21. The company will be investing a heavy amount of $115 million for the assembling of an automobile plant in Karachi, Pakistan.
It is predictable that the company will bring in the below-mentioned cars in the country:
- Kia Rio
- Kia Sportage
- Kia Carnival(MPV)
All thanks to the new auto policy for the year 2016-21which is now bearing fruits .It is in fact a good act for local automobile industry and consumers. Not only KIA Lucky Motors, but also Hyundai Nishat Motors has also signed a deal with the government a few days back to commence Hyundai Motors in the country. Furthermore, Hyundai Nishat Motors also inaugurated its production plant in Faisalabad today (20-DEC-2017).
Apart from Korean automakers, in addition French automotive giant Renault is also geared up to launch its vehicles in Pakistan with its collaborator Al-Futtaim, which will be accountable for the assembling, production, and selling of the Renault vehicles in Pakistan.
With an enormous space for new automakers and expanding demand for vehicles, the new entrants will of course branch out the local market, which will in addition push the existing local automakers to bring in modern vehicles with advance technologies.
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