KIA Motors to Establish Car Assembly Plant in Pakistan
The South Korean car maker KIA Motors is all set to establish the car assembly plant in Pakistan.
The Local investor Lucky Cement is about to invest Rs. 12 billion with Kia Motors in order to launch the Plant and manufacture of Kia vehicles in the country.
Lucky Cement said in a statement that they have a plan to set a new company to start assembling and manufacturing Kia vehicles in the country.
On the other hand it is not clear now how much Kia Motors is to invest in the project. Earlier Pakistan had Kia cars assimilation plant but due to the disappointing sales of the vehicle the manufacturing halted.
Lucky Cement in a statement told the Pakistan Stock Exchange that this new venture with KIA Motors will lead to not only import and export all types of Kia vehicles but also market and sells part and accessories.
The re-establishment of Kia cars assembly and manufacture plant in the country will encourage government efforts to untie the grip of Honda, Toyota and Suzuki and slacken the domination of Japanese car market.