Pakistan’s Lucky Motor Corporation (LMC) is likely to introduce KIA Stonic and Peugeot 2008 in the coming months, as it eyes to become the only company in Pakistan to assemble vehicles of two different brands.
With launch of two new car expected namely KIA Stonic and Peugeot 2008, Lucky Motor is set to become the only company in Pakistan to assemble vehicles of two brands@MAliTabba @LuckyCementLtd @KiaMotorsPK @Peugeot @Hammad_Azhar @razak_dawood @aliya_hamza #PakistanMovingForward pic.twitter.com/xTG58MtcFa— Arif Habib Limited (@ArifHabibLtd) September 13, 2021
The KIA Stonic would launch in Pakistan in October, say market sources whereas Peugeot 2008 would be launched in November. The vehicles will be locally assembled at the KIA plant located in Port Qasim, informed the source.
Back in February, LMC launched KIA Sorento, which has three different variants: the 2.4-litre Front Wheel Drive, 2.4L All-Wheel Drive, and 3.5L Front Wheel Drive.
KIA Stonic is a subcompact crossover SUV (B-segment) manufactured by Kia Motors. Peugeot 2008, is also subcompact crossover SUV (B-segment) produced by the PSA Group, later named as Stellantis.
Seeking incentives from the country’s earlier auto policy which expired in 2021, a number of companies have announced local assembly in Pakistan. Companies like Hyundai Nishat Motor Private Limited (‘Hyundai Pakistan’) were established under the auspices of the Auto Development Policy 16-21 (ADP).
Market sources added that another brand could enter the market in the coming days as well.
Experts suggest the local auto industry has become competitive with the entry of new brands.