In an announcement to Pakistan Stock Exchange, Luck Cement (Parent Company of Kia Lucky Motors) announced that Kia Lucky Motors has successfully completed commissioning of pilot production and have commenced its operations at Bin Qasim Plant in Karachi as per estimated timelines of the project.
The total cost of the plant is estimated at Rs. 19 billion while the plant has the capacity to produce up to 50,000 units by deploying double shifts at the plant.
KIA Motors will start bookings for “Sportage” vehicles from 30th June 2019 while Delivery will be made in August 2019. The Kia Sportage expected to be launched at a price of Rs. 5,500,000 in Pakistan.
Similarly, the bookings for “Picanto” will start in August-2019 while it Delivery will be made in October-2019. The estimated Price for Kia Picanto is around Rs. 1,400,000 in Pakistan while it’s competitive strategy is to rival with Suzuki Alto/Swift/Wagon-R/Cultus, which are seen as its main targets.