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Lucky Motor Corporation

Topic: Company

 From HandWiki - Reading time: 2 min
Short description: Pakistani automobile manufacturer
Lucky Motor Corporation
TypeJoint venture
IndustryAutomotive industry
Founded2017; 7 years ago (2017)
HeadquartersKarachi, Pakistan
ProductsAutomobiles
Number of employees
2000+
Websitewww.luckymotorcorp.com

Lucky Motor Corporation (LMC) is a Pakistani automobile manufacturer which is a part subsidiary of South Korean automobile manufacturer Kia Motors. It is a joint venture between Lucky Group and Kia Motors.[1] Kia Lucky Motors Pakistan has recently changed its name to Lucky Motors Corporation Limited[2] in 2020 but it does not mean that both companies have ended their partnership.

The manufacturing plant became operational in September 2019.[3][4]

Operations in Pakistan

In the first quarter of 2023, Lucky Motors increased the prices of Kia cars, primarily due to the imposition of heavy taxes by the government.[5][6] This sudden increase in prices significantly affected the affordability of the vehicles for the general public, leading to a substantial decline in the company's sales figures.[7]

Agreement with Samsung

Lucky Motor Corporation (LMC) began manufacturing Samsung smartphones in Pakistan in December 2021, at their plant in Port Qasim Industrial Zone, Karachi.[8] The Pakistan Telecommunication Authority (PTA) issued authorization for mobile device manufacturing to LMC in August 2021.[9]

Products

Kia

Peugeot

References

  1. ↑ Reporter, The Newspaper's Staff (22 November 2016). "'Yunus Brothers, Kia Motors to set up auto assembly plant'". https://www.dawn.com/news/1297762. 
  2. ↑ "Why Lucky Motors Removed KIA from its Name?" (in en-US). 2020-10-06. https://www.pakwheels.com/blog/why-lucky-motors-removed-kia-from-its-name/. 
  3. ↑ "Kia Lucky Motors to start vehicle production by Sept". January 31, 2019. http://tribune.com.pk/story/1901254/2-kia-lucky-motors-start-vehicle-production-sept. 
  4. ↑ "Kia Calgary". https://www.northlandkia.ca/.  Friday, 12 February 2021
  5. ↑ "KIA car prices increased significantly" (in en). 2023-02-22. https://tribune.com.pk/story/2402525/kia-car-prices-increased-significantly. 
  6. ↑ "Car prices raised by 11%" (in en). 2023-03-12. https://tribune.com.pk/story/2405659/car-prices-raised-by-11. 
  7. ↑ News Desk (2023-01-03). "Kia records declining sales in Pakistan" (in en-GB). https://www.globalvillagespace.com/kia-records-declining-sales-in-pakistan/. 
  8. ↑ Masooma, Syeda (16 July 2021). "Lucky Motors to Make Samsung Smartphones in Pakistan". https://propakistani.pk/2021/07/16/lucky-motors-to-make-samsung-smartphones-in-pakistan/. 
  9. ↑ "PTA AUTHORIZES LUCKY MOTOR CORPORATION TO MANUFACTURE SAMSUNG MOBILE DEVICES". 10 August 2021. https://www.pta.gov.pk/en/media-center/single-media/pta-authorizes-lucky-motor-corporation-to-manufacture-samsung-mobile-devices-100821. 
  10. ↑ 10.0 10.1 "New cars set to enter auto sector of Pakistan" (in en). 2021-02-15. http://tribune.com.pk/story/2284299/new-cars-set-to-enter-auto-sector-of-pakistan. 
  11. ↑ "New cars set to enter auto sector of Pakistan" (in en). 2021-08-09. https://propakistani.pk/2021/08/09/lucky-motors-to-launch-new-kia-and-peugeot-cars-in-the-next-few-months. 




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