Kia Commences Local Production, Announces Booking Date for Sportage

[313ghazi]

Kia Lucky Motors Pakistan Limited (KLM), one of the eight new prospective entrants into the automobile sector, has successfully completed commissioning of equipment and pilot production and recently commenced CKD (Completely Knocked Down) operations at its plant located at Port Qasim, Karachi.

KLM is a joint venture between the Lucky group and South Korea’s Kia Motors. The total project cost of the company amounts to Rs. 19.5 billion read the notification.


KLM’s state of the art facility has the capacity to produce 50,000 vehicles per annum on a double shift basis.

“The booking of ‘Sportage’ an SUV being KLM’s first model will start from 30th June 2019 and delivery thereof will start from the first week of August 2019” the notification said.

Furthermore, the notification read that “The booking of ‘PICANTO’ hatchback being KLM’s second model is expected to start in August 2019 and delivery thereof from October 2019”

Kia Lucky Motors Pakistan Ltd had applied for Greenfield status on March 13, 2017, which was awarded on June 19, 2017. The planned investment in the project is $ 190 million.

Lucky’s script at the bourse closed at Rs. 380.47, up by 7.30 or +1.96% with a turnover of 606,500 shares on Friday.

https://propakistani.pk/2019/06/28/...oduction-announces-booking-date-for-sportage/

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Does anyone know what price they'll charge for the sportage?

 

[El Sidd]

How many people can afford these vehicles? They look really expensive and shiny

 

[Sheikh Rauf]

Majorly it has problem with power steering. looks good but not as strong as RAV4. pluse expensive.
in link someone says assembly not Production. please correct it.

 

[slapshot]

I am looking forward for their economy class Kia Picanto release. Sadly recent economic crises reduced the purchasing power of people. Let's see if new entrants are still able to pitch their products with comparatively better prices.

 

[Arsalan]

How many people can afford these vehicles? They look really expensive and shiny

With current production capacity of around 200000 and deliveries spanning to over 6 months AND hundreds of thousands of cars being imported, it looks like a lot of people can. Automobile industry is one of the fastest growing industries in the country. If the new plants all get operational there is also some potential of exports.

 

[El Sidd]

With current production capacity of around 200000 and deliveries spanning to over 6 months AND hundreds of thousands of cars being imported, it looks like a lot of people can. Automobile industry is one of the fastest growing industries in the country. If the new plants all get operational there is also some potential of exports.

How will the governments call to promote E-vehicles come to play in this puzzle then?

GoP has strict carbon emission policies in place ever since we suffer from Environmental terrorism by our neighbor.

 

[Arsalan]

How will the governments call to promote E-vehicles come to play in this puzzle then?

GoP has strict carbon emission policies in place ever since we suffer from Environmental terrorism by our neighbor.

No idea. Perhaps subsidies or other forms of encouragement. Not aware if we are pushing for E-Vehicles right now to be honest. I will like that to happen however. We import oil and savings on that will be beneficial not just for environment but economy as well.

 

[war&peace]

With current production capacity of around 200000 and deliveries spanning to over 6 months AND hundreds of thousands of cars being imported, it looks like a lot of people can. Automobile industry is one of the fastest growing industries in the country. If the new plants all get operational there is also some potential of exports.

Also a few thousand people will get jobs in addition to revenue for the govt.

 

[El Sidd]

No idea. Perhaps subsidies or other forms of encouragement. Not aware if we are pushing for E-Vehicles right now to be honest. I will like that to happen however. We import oil and savings on that will be beneficial not just for environment but economy as well.

Oh i thought the GoP already rolled out a plan regarding the roadmap to E-mobility.

Lucky Group is also facing corruption charges and hopefully that was also taken into account.

 

[Cornered Tiger]

How will the governments call to promote E-vehicles come to play in this puzzle then?

No idea. Perhaps subsidies or other forms of encouragement. Not aware if we are pushing for E-Vehicles right now to be honest. I will like that to happen however. We import oil and savings on that will be beneficial not just for environment but economy as well.

Oh i thought the GoP already rolled out a plan regarding the roadmap to E-mobility.

A new special economic zones is being planned for E-vehicles, where investors will be given incentives and other benefits. Ministry of Climate Change is working on it.

 

[Arsalan]

Oh i thought the GoP already rolled out a plan regarding the roadmap to E-mobility.

Not aware of it if it was announced and i dont think it was. The focus of the policy by previous gov. was:

1. To bring in some investment for the plants
2. To cut on the import bill be reducing the number of vehicles, new and refurbished, that we are importing
3. To create jobs.

I am not sure if electronic or hybrid vehicles were part of the plan.

Lucky Group is also facing corruption charges and hopefully that was also taken into account.

Indeed. However there is no gov. financing involved.

A new special economic zones is being planned for E-vehicles, where investors will be given incentives and other benefits. Ministry of Climate Change is working on it.

Thanks. Was not aware of it.

 

[El Sidd]

A new special economic zones is being planned for E-vehicles, where investors will be given incentives and other benefits. Ministry of Climate Change is working on it.

I thought the plan was already through that is why i asked.

Indeed. However there is no gov. financing involved.

GoP is still under obligation to ensure financial transparency even if it is not gormint money.

 

[Arsalan]

I thought the plan was already through that is why i asked.

GoP is still under obligation to ensure financial transparency even if it is not gormint money.

Yes for sure. Its there JOB!!

 

[El Sidd]

Yes for sure. Its there JOB!!

How many projects audited by the GoP made public?

 

[Arsalan]

How many projects audited by the GoP made public?

none that i am aware of. Actually, this is one huge problem in our systems. The cries of corruption and stories of loot and plunder are just political slogans and not actually made public as they should be for the people to understand and learn something from it. The way our governments do it, one side believes them blindly and other discard these as propaganda. Somewhere in between the two, the facts are lost.