Kia Lucky Motors Pakistan Limited (KLM) has announced that it will begin commercial production of vehicles by September 2019.
Kia Motors has sent a notification to Pakistan Stock Exchange on Thursday declaring that “[KLM] targets to start production in the first quarter of the financial year 2019-20’”
KLM is an enterprise worth Rs20 billion including Rs14 billion in investment from the Yunus Brothers Group (YBG), the parent company of KLM. The company is a collaboration between South Korean Kia motors and the lucky group.
The company has started the sale of imported completely built units (CBU) on June 1, 2018.
The collaborated companies have now started to assemble, market and distribute all kinds of Kia vehicles, parts and accessories under licence from Kia Motors Corporation.
KLM Chief Operating Officer Muhammad Faisal said that “KLM’s plant construction is in full swing,” he also added “Lack of amenities may become a bottleneck, but work on our part is in full gear,” said the COO. The plant is waiting for the basic amenities like gas and electricity.
A 660-megawatt plant will be commenced commercially in 2021 by YGB according to the bourse filing.