November 10, 2022 (MLN): KIA Corporation has clarified that Lucky Motor Corporation (LMC) is the exclusive licensee holder of KIA to manufacture, assemble, market, distribute and sell KIA Cars and SUVs in Pakistan, the company’s filings on the stock exchange showed on Thursday.
As per the general agreement signed between KIA and LMC for technical collaboration and KD Supply, the company has an exclusive license to sell KIA cars and SUVs in Pakistan.
Earlier, a contract was signed between Deewan Farooq Motors Limited and KIA’s "Special Vehicle Division" which is limited only to special-purpose commercial vehicles including PU (Bongo).
KIA further clarified, “DFML is not and shall not in future be allowed to produce any other Kia cars and Kia SUVs in Pakistan as long as Kia and LMC maintain CKD business in Pakistan”.
Moreover, KIA appreciated and acknowledged the efforts of LMC in making the KIA brand a success in Pakistan.
The Company is confident that, with a long-term strategic business relationship between KIA and LMC, the KIA brand will soon become one of Pakistan's most successful brands.
