Lucky Motor Corporation
  | |
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Automotive |
| Founded | 2017 |
| Headquarters | Karachi, Pakistan |
| Products | Automobiles |
| Revenue |  Rs. 82.0 billion (US$280 million) (2023) |
| Rs. 9.0 billion (US$31 million) (2023) | |
| Total equity |  Rs. 33.0 billion (US$110 million) (2023) |
| Owner | Lucky Cement (71.55%) |
Number of employees | 2000 |
| Parent | Lucky Cement |
| Website | luckymotorcorp |
| Footnotes / references Financials as of 30 June 2023[update] [1] | |
Lucky Motor Corporation (LMC) is a Pakistani automobile manufacturer and distributor which is a subsidiary of Lucky Cement.
History
[edit]It was founded in 2017 for the purpose of assembling and distributing automobiles from the South Korean automobile manufacturer Kia in Pakistan.[2] Originally incorporated as Kia Lucky Motors Pakistan, the company changed its name to Lucky Motor Corporation Limited[3] in 2020. It did so because it added Peugeot to its business, similarly assembling, distributing, and marketing Peugeot vehicles in Pakistan. Lucky Motor Corporation continues to assemble and market Kia vehicles.
The manufacturing plant became operational in September 2019.[4][5]
Operations in Pakistan
[edit]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.[6][7] 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.[8]
Agreement with Samsung
[edit]Lucky Motor Corporation (LMC) began manufacturing Samsung smartphones in Pakistan in December 2021, at their plant in Port Qasim Industrial Zone, Karachi.[9] The Pakistan Telecommunication Authority (PTA) issued authorization for mobile device manufacturing to LMC in August 2021.[10]
Products
[edit]Kia
[edit]- Kia Picanto (City car)
- Kia Sportage (Compact SUV)
- Kia Stonic (Subcompact Crossover SUV)[11]
- Kia Sorento (Mid-size Crossover SUV)[11]
- Kia Grand Carnival (KA4) (Minivan)
Peugeot
[edit]References
[edit]- ^ "Lucky Motor Annual Report 2023". Retrieved 4 November 2024.
- ^ Reporter, The Newspaper's Staff (22 November 2016). "'Yunus Brothers, Kia Motors to set up auto assembly plant'".
- ^ "Why Lucky Motors Removed KIA from its Name?". PakWheels Blog. 2020-10-06. Retrieved 2021-03-09.
- ^ "Kia Lucky Motors to start vehicle production by Sept". The Express Tribune. January 31, 2019.
- ^ "Kia Calgary". Friday, 12 February 2021
- ^ "KIA car prices increased significantly". The Express Tribune. 2023-02-22. Retrieved 2023-03-14.
- ^ "Car prices raised by 11%". The Express Tribune. 2023-03-12. Retrieved 2023-03-14.
- ^ News Desk (2023-01-03). "Kia records declining sales in Pakistan". Global Village Space. Retrieved 2023-03-14.
- ^ Masooma, Syeda (16 July 2021). "Lucky Motors to Make Samsung Smartphones in Pakistan". ProPakistani. Retrieved 7 November 2023.
- ^ "PTA AUTHORIZES LUCKY MOTOR CORPORATION TO MANUFACTURE SAMSUNG MOBILE DEVICES". Pakistan Telecommunication Authority. 10 August 2021. Retrieved 7 November 2023.
- ^ a b "New cars set to enter auto sector of Pakistan". The Express Tribune. 2021-02-15. Retrieved 2021-02-19.
- ^ "New cars set to enter auto sector of Pakistan". Propakistani.pk. 2021-08-09. Retrieved 2021-08-09.
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