Dewan Motors to Relaunch KIA Shehzore in June 2024
Dewan Farooque Motors Limited (DFML) announced on Wednesday that it will reopen its production plant after nine years to relaunch the KIA Shehzore commercial vehicle in June 2024.
In a notification to the Pakistan Stock Exchange (PSX), Company Secretary Muhammad Hanif German stated that DFML will begin commercial production of the KIA Shehzore, with a launch ceremony scheduled for June 4, 2024. The company will introduce three variants: standard, king size, and double cabin, with the double cabin being new to Pakistan.
The plant, which shut down in 2015, previously produced Hyundai Santro cars and Shehzore commercial vehicles. DFML has been preparing for this relaunch for two years, signing a Technical License Agreement with KIA Corporation in November 2022.
Germany expects a positive market response due to the anticipated economic upturn in Pakistan. Commercial vehicles will primarily be sold for cash, but the Prime Minister’s Nojawan Rozgar program will offer leasing options. DFML currently has 18 dealers, with plans to expand to 25 within 15 days.
Import issues have been resolved since August 2023, and the rupee-dollar parity has stabilized. The government and banks have been supportive. DFML’s recent financial report shows that they have received the necessary parts and completed preparations for production. They have also established a nationwide dealership network and received certification from the Engineering Development Board of Pakistan for in-house assembly and manufacturing.
