Not so long ago, Lucky Cement announced KIA Motors launch in Pakistan. Now KIA Lucky Motors has signed an agreement with the Ministry of Industries and Production (MoIP) for production of vehicles in Pakistan. This agreement was signed on Monday.
It has been agreed upon between MoIP and KIA that the company will produce passenger and light commercial vehicles under Automotive Development Policy 2016-2021.
Till the plant of Kia Lucky Motors gets operational in Karachi, the company will import its vehicles.
It is pertinent to mention here that KIA is spending $115 million for setting up its auto assembly plant in Karachi. Once the plant starts operating it will produce passenger and commercial vehicles.
The testing phase for KIA vehicles has started in Karachi and Hyderabad. This has also given some hint as to what kind of vehicles KIA Lucky Motors will introduce in Pakistan. It is expected that KIA Lucky Motors will initially launch these cars in Pakistan Kia Rio, Kia Sportage, and Kia Carnival (MPV).
Many international auto companies are coming to Pakistan. From KIA Motors to Hyundai, Volkswagen, Renault etc. Hyundai has merged with Nishat group to start manufacturing vehicles in Pakistan. The plant of Hyundai Nishat will also be launched this week in Faisalabad.
Diversity is a very important factor for a market to thrive. As many international auto companies are coming in Pakistan, there will be a choice for Pakistanis and the local competition will increase.