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Peugeot launches operations in Pakistan with Lucky Motor Corp – Business & Finance

Peugeot launches operations in Pakistan with Lucky Motor Corp - Business & Finance
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KARACHI: The European automaker “Peugeot” has officially launched operations in Pakistan with its exclusive partner Lucky Motor Corporation (LMC). The company has initially introduced two variants of Peugeot 2008 SUV – Active and ALLURE in Pakistan.

With the introduction of Peugeot, the LMC 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.

Asif Rizvi, Chief 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.

The first step of this ongoing commitment to the Pakistani customer will begin with the introduction of the Peugeot 2008. Rizvi also termed the government Auto Industrial Development Policy (AIDP) 2016-21 as successful, saying that the government policy has resulted in the addition of 12 new entrants as car manufacturers bringing in about 15 brands and 25 new vehicles in the country.

The consumers’ choice is limited to cars designed from the Far East. Sensing this gap and constraint in customer preferences and choices, the company signed up with Stellantis, the 4th largest car company in the world, having 13 international brands.

The Peugeot 2008 is the newest generation of the smallest Peugeot SUV. It is a 1200 cc turbo charged engine and boasts 130 hp and 250 nm torque. To many it may not make sense that a 1200 cc engine can produce 130 hp which is comparable to an 1800 cc engine, Rizvi said.

The newest trend Peugeot engine, although 1200 cc is turbo charged and its performance is equal to an 1800 cc vehicle. On one hand, the engine has power equivalent to an 1800 cc of other brands and on the other hand it has fuel consumption of a 1200 cc vehicle. This is a double benefit to the consumer who can enjoy power of a larger engine at fuel consumption rate of a small car.

Peugeot 2008 as said earlier gives enough power equivalent to 1800 cc and delivers at a fuel consumption rate of as high as 15 km/litre as compared to 10 km/litre for an 1800 cc engine. The mindset of the consumer must change to look to HP and Torque in defining vehicle performance, as compared to engine bore size versus cc.

Rizvi further said that there would be further local job creation in the market with expansion of operations and network of Peugeot. He said that Electric (EVs) are the future of Mobility Solutions Globally and by 2025 80% of all Peugeot vehicles will be Electric.

The e-2008 will be the next model launched, giving customers the freedom to choose between a 100 percent electric and a thermal 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.

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.

The 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 begin 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 opportunity to thank Mr Muhammad Ali Tabba and Asif Rizvi for making this partnership possible and I am looking forward to witnessing the growth of both parties in the country”.

Copyright Business Recorder, 2022

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