Partnership to facilitate the creation of state-of-the-art assembly facilities to boost employment, localization and local automotive industry in Pakistan
KARACHI – European automotive manufacturer, PEUGEOT, has officially launched operations in Pakistan for the first time in its distinguished history with its exclusive partner Lucky Motor Corporation. The partnership commenced with the opening of eight 3S dealerships in six cities, as well as a state-of-the-art facility for the assembly of cars in Pakistan.
Lucky Motor Corporation is a subsidiary of the Yunus Brothers Group, and has a legacy spanning over five decades, thanks to its robust and aggressive approach gaining considerable market share in the Pakistani automotive industry, and setting new benchmarks in terms of product offering & customer service. With the introduction of PEUGEOT, the company now aims to provide the best mobility solutions the European Brand can offer its customers.
PEUGEOT is an inventive brand that has been a pioneer in the automotive industry for over 211 years guided by its brand values; Allure, Emotion and Excellence, which represent sharp design, intuitive driving pleasure and uncompromising quality. With its entry into Pakistan, these values will be upheld as the brand strives to provide the market with the latest innovations and mobility solutions.
Linda Jackson, CEO of the PEUGEOT Brand, said: “We are delighted with this partnership and what it means for the Pakistani market. This will be the first time a European car is assembled in Pakistan and we are excited to work with Lucky Motors to support employment, localization and the local automotive industry in the country. Internationalization is a key focus for PEUGEOT, with the B and C segment SUV growth representing a great opportunity for us. This is also bolstered by the evolution of the legislation of the country towards electrification which is in line with our own strategy.”
Samir Cherfan, Chief Operating Officer, Middle East & Africa Region, Stellantis, said: “We are excited to embark on this journey in Pakistan with our new partner, Lucky Motor Corporation. We see tremendous potential and opportunity for PEUGEOT in Pakistan, and are looking forward to serving customers in this exciting market. I would like to also take this occasion to thank Mr Muhammad Ali Tabba and Mr Asif Rizvi for making this partnership possible and I am looking forward to witnessing the growth of both parties in the country.”
Asif Rizvi, Cheif Executive Officer, Lucky Motors Company, said : “Lucky Motors is set to change the automotive landscape of Pakistan by introducing Peugeot, the first locally made European brand in the country. We are very excited to partner with Peugeot and look forward to being associated with Stellantis, a company that strongly believes in futuristic mobility solutions.
Pakistan, with its 220 million population, offers a great opportunity for someone to come in and disrupt the automotive market. And we have no doubt that the Stellantis with its 14 brand portfolio, will be the one to do so. Lucky Motors is proud to become the first company in Pakistan to have multi-brand manufacturing and dealers. We are delighted to embark on this adventure, bringing with it the best automotive solutions, while also making meaningful contributions and investments that will support economic and social development in Pakistan.”
The first step of this ongoing commitment to the Pakistani customer will begin with the introduction of the PEUGEOT 2008. The lauded 2008 has been a success story for the brand since its development and stands apart in the compact SUV segment with its distinctive design, advanced technology and efficient powertrains. It also benefits from The PEUGEOT i-Cockpit, which features a stimulating interior design along with a state-of-the-art digital cluster and touchscreen that amplifies any driving experience. With 26 international prizes, including the Red Dot Design Award, and its perceived quality and value, the 2008 is the perfect model for Pakistani families.
The e-2008 will be the next model launched, giving customers the freedom to choose between a 100% electric and a thermic version, thanks to the Multi Energy platform CMP. Together, with support from PEUGEOT, Lucky Motors Corporation will assemble various models locally at state-of-the-art facilities, and is currently exploring opportunities to distribute multiple models by early next year.
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 8, 2023 (Wednesday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||331.78||332.48|
|Hong Kong Dollar||HKD||35.08||35.45|
|New Zealand Dollar||NZD||174.19||176.18|
KARACHI – Gold prices fell on Wednesday for the third straight day in local markets, after hitting aan all-time high in previous week.
The per tola price of 24 carats gold in Pakistan dropped by Rs2,000 to settle at Rs198,000 while the price of 10 grams decreased by Rs1715 to reach Rs169753.
On Monday, the gold price witnessed a drop of Rs200 per tola to close at Rs204,300.
In the international market, the commodity witnessed an upward trend as per ounce price reached to $1,880 after an increase of $11 dollars.