Lucky Motors Company recently signed a contract with 4th largest car manufacturer, Stellantis Group, that operates 16 automobile brands.
Lucky Motors Company have acquired the rights for assemble, manufacture, market, distribute, and sell the cars manufactured under Stellantis including passenger cars and light commercial vehicles. Stellantis is currently world’s fourth largest car manufacturing group that came into the spotlight after the merge of PSA Groupe and Fiat Chrysler Automobiles (FCA) group.
CEO LMC, Asif Rizvi said,
“LMC is set to create history in the automobile industry of Pakistan by manufacturing and distributing two different international brands under one roof and ushering in an era of multi-brand car companies.”
The CEO further confirmed that these cars would be assembled at Bin Qasim Industrial Park (BQIP) which is the same manufacturing plant for Kia vehicles. Stellantis vehicles would soon be introduced in the country as LMC has planned to assemble vehicles within the Automotive Development Policy (ADP) 2016-2021. The European auto giant will be entering the market with an investment of €10 million confirmed by CEO LMC.
This would be for the first time that two different automobile companies would be operating under same brand. Through this contract, LMC would be able to partner up with other brands of the group such as Dodge, Jeep, Fiat, etc. Moreover, LMC and Stellantis will be introducing the first locally assembled European vehicle in the country.
Explaining the significance of European cars, Asif Rizvi said,
“European vehicles have their own unique style and technology, which is a good addition to the automotive landscape of the country. The true gainers will be consumers who have been without much choice for a long time.”