Karachi November 10 2022: Dewan Farooq Motors will manufacture commercial vehicles only according to the contract signed with KIA Corporation.
In a clarification letter written by Scietlang Chang President, Kia Middle East and Africa to the recent notification by Dewan Farooque Motors Limited (DFML) to the Pakistan Stock Exchange regarding the signing of the Technical License Agreement between them and Kia Corporation (KIA).
We would like to clarify that Lucky Motor Corporation (LMC) is the exclusive licensee of Kia to manufacture. Assemble, market, distribute and sell Kia Cars and SUVs in Pakistan according to the General Agreement for Technical Collaboration and KD Supply signed between both the parties.
KIA further clarify that a contract recently signed by and between Kia’s “Special Vehicle Division” and DFML is limited only to special purpose commercial vehicles including PU (Bongo), and DFML is net 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.
“We would like to categorically stale that LMC is a trusted long-term exclusive CKD partner for Kia Cars and SUVs in Pakistan as per the contract signed between both the parties” says Scietlang Chang President, Kia Middle East and Africa
He added “KIA recognizes and appreciates the efforts LMC has put in to Make the Kia brand a true success in Pakistan and we truly believe that with long-term strategic business relationship between KIA and LMC, the KIA brand is bound to be one of the most successful brands in Pakistan in the very near future”
