Lucky Motors, the Younus Brothers Group’s company has signed another agreement to assemble and manufacture French Peugeot cars in Pakistan. So Lucky Motors is ready to assemble Peugeot cars in Pakistan.
An expression of interest (EoI) and a memorandum of understanding (MoU) was signed between Lucky Motors and PSA Groupe of France. It was signed during mid of May 2019. Basically, Groupe PSA is a multinational producer of automobiles and motorbikes in France.
In Europe, the vehicle manufactured by Groupe is sold under different names like Opel, DS, Peugeot, Citroen, and Vauxhall. But, the largest PSA brand in Europe is Peugeot.
The agreement gives Lucky Motors the rights to assemble, manufacture, market, distribute and sell Peugeot vehicles in Pakistan. Both passenger cars and light commercial vehicles (LCV’s) will be sold. It is reported that Lucky Motors is planning to manufacture these cars at its vehicle assembly plant at Bin Qasim Industrial Park.
It is pertinent to mention here that Lucky Motors is already assembly and producing the South Korean auto giant KIA’s cars in Pakistan under the brand name Kia Lucky Motors.
Renault and Volkswagen have also entered the Pakistani auto market but they have not started setting up their plants. Due to economic uncertainty in Pakistan, we are not sure whether Al-Futtaim Renault will continue its operations in the country or not.