Lucky Motor: Difference between revisions

Lucky Motor Corporation
	;
Company type	Subsidiary
Industry	Automotive
Founded	2017; 7 years ago
Headquarters	Karachi, Pakistan
Products	Automobiles
Revenue	Rs. 82.0 billion (US$280 million) (2023)
Net income	Rs. 9.0 billion (US$31 million) (2023)
Total equity	Rs. 33.0 billion (US$110 million) (2023)
Owner	Lucky Cement (71.55%)
Number of employees	2000+
Parent	Lucky Cement
Website	luckymotorcorp.com
	Footnotes / references; Financials as of 30 June 2023

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Latest revision as of 12:32, 30 November 2024

Lucky Motor Corporation (LMC) is a Pakistani automobile manufacturer and distributor which is a subsidiary of Lucky Cement.

History

It was founded in 2017 for the purpose of assembling and distributing automobiles from the South Korean automobile manufacturer Kia in Pakistan.^[2] Originally incorporated as Kia Lucky Motors Pakistan, the company changed its name to Lucky Motor Corporation Limited^[3] in 2020. It did so because it added Peugeot to its business, similarly assembling, distributing, and marketing Peugeot vehicles in Pakistan. Lucky Motor Corporation continues to assemble and market Kia vehicles.

The manufacturing plant became operational in September 2019.^[4]^[5]

Mobile assembly

Lucky Motor Corporation (LMC) began assembling Samsung smartphones in Pakistan in December 2021, at its plant in Port Qasim Industrial Zone, Karachi. The Pakistan Telecommunication Authority (PTA) issued authorization for its mobile devices in August 2021.^[6]

Products

Kia

Kia Picanto (City car)
Kia Sportage (Compact SUV)
Kia Stonic (Subcompact Crossover SUV)^[7]
Kia Sorento (Mid-size Crossover SUV)^[7]
Kia Grand Carnival (KA4) (Minivan)

Peugeot

Peugeot 2008 (Subcompact Crossover SUV)^[8]

References

^ "Lucky Motor Annual Report 2023". Retrieved 4 November 2024.
^ Reporter, The Newspaper's Staff (22 November 2016). "'Yunus Brothers, Kia Motors to set up auto assembly plant'".
^ "Why Lucky Motors Removed KIA from its Name?". PakWheels Blog. 2020-10-06. Retrieved 2021-03-09.
^ "Kia Lucky Motors to start vehicle production by Sept". The Express Tribune. January 31, 2019.
^ "Kia Calgary". Friday, 12 February 2021
^ "PTA AUTHORIZES LUCKY MOTOR CORPORATION TO MANUFACTURE SAMSUNG MOBILE DEVICES". Pakistan Telecommunication Authority. 10 August 2021. Retrieved 7 November 2023.
^ ^a ^b "New cars set to enter auto sector of Pakistan". The Express Tribune. 2021-02-15. Retrieved 2021-02-19.
^ "New cars set to enter auto sector of Pakistan". Propakistani.pk. 2021-08-09. Retrieved 2021-08-09.

This Pakistani corporation or company article is a stub. You can help Wikipedia by expanding it.

[AR2023-1] "Lucky Motor Annual Report 2023". Retrieved 4 November 2024.

[2] Reporter, The Newspaper's Staff (22 November 2016). "'Yunus Brothers, Kia Motors to set up auto assembly plant'".

[3] "Why Lucky Motors Removed KIA from its Name?". PakWheels Blog. 2020-10-06. Retrieved 2021-03-09.

[4] "Kia Lucky Motors to start vehicle production by Sept". The Express Tribune. January 31, 2019.

[5] "Kia Calgary". Friday, 12 February 2021

[6] "PTA AUTHORIZES LUCKY MOTOR CORPORATION TO MANUFACTURE SAMSUNG MOBILE DEVICES". Pakistan Telecommunication Authority. 10 August 2021. Retrieved 7 November 2023.

[:0-7] "New cars set to enter auto sector of Pakistan". The Express Tribune. 2021-02-15. Retrieved 2021-02-19.

[:1-8] "New cars set to enter auto sector of Pakistan". Propakistani.pk. 2021-08-09. Retrieved 2021-08-09.

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@@ Line 2: / Line 2: @@
 {{Infobox company
 | name     = Lucky Motor Corporation
+| logo  = [[File:KIA logo3.svg|100px]]<br />[[File:Peugeot textlogo21.png|100px]]
-| logo  =
 | image = Kia Motors showroom in Karachi, Pakistan.jpg
-| type  =  [[Joint venture]]
+| type  =  [[Subsidiary]]
 | traded_as =
 | foundation  = {{start date and age|2017}}
@@ Line 12: / Line 12: @@
 | industry  =  [[Automotive industry|Automotive]]
 | products  =  [[Automobiles]]
 | area_served  =
-| revenue  =
+| revenue = {{decrease}} {{PKRConvert|82.0|b}}
+| revenue_year = 2023
-| operating_income  =
-| net_income  =
+| net_income = {{decrease}} {{PKRConvert|9.0|b}}
-| assets  =
+| net_income_year = 2023
-| equity  =
+| assets =
+| assets_year =
+| equity = {{Increase}} {{PKRConvert|33.0|b}}
+| equity_year = 2023
 | num_employees  = 2000+
+| owner  = [[Lucky Cement]] (71.55%)
-| parent  =
+| parent = [[Lucky Cement]]
-| homepage  = {{url|https://kia-luckymotorcorp.com/}}
+| website  = {{URL|luckymotorcorp.com}}
+| footnotes = Financials {{as of|2023|6|30|lc=y}} <ref name="AR2023">{{cite web|title=Lucky Motor Annual Report 2023|url=https://profit.pakistantoday.com.pk/2024/05/06/kia-stonics-drastic-price-fall-is-a-tale-of-lobbying-regulatory-capture-and-high-margins-heres-what-went-down-behind-the-scenes/ |access-date=4 November 2024}}</ref>
 }}
-'''Lucky Motor Corporation''' ('''LMC''') is a Pakistani [[Car|automobile]] manufacturer which is a  part subsidiary of South Korean automobile manufacturer [[Kia|Kia Motors]]. It is a [[joint venture]] between Lucky Group and Kia Motors.<ref>{{cite web|url=https://www.dawn.com/news/1297762|title=‘Yunus Brothers, Kia Motors to set up auto assembly plant’|first=The Newspaper's Staff|last=Reporter|date=22 November 2016}}</ref> Kia Lucky Motors Pakistan has recently changed its name to '''Lucky Motors Corporation Limited'''<ref>{{Cite web|date=2020-10-06|title=Why Lucky Motors Removed KIA from its Name?|url=https://www.pakwheels.com/blog/why-lucky-motors-removed-kia-from-its-name/|access-date=2021-03-09|website=PakWheels Blog|language=en-US}}</ref> in 2020 but it does not mean that both companies have ended their partnership.
+'''Lucky Motor Corporation''' ('''LMC''') is a Pakistani [[car|automobile]] manufacturer and distributor which is a subsidiary of [[Lucky Cement]].
-The manufacturing plant became operational in September 2019.<ref>{{Cite web|url=http://tribune.com.pk/story/1901254/2-kia-lucky-motors-start-vehicle-production-sept|title=Kia Lucky Motors to start vehicle production by Sept|date=January 31, 2019|website=The Express Tribune}}</ref><ref>{{cite web| url=https://www.northlandkia.ca/ |title= Kia Calgary }} Friday, 12 February 2021 </ref>
-Following vehicles are assembled/manufactured:<ref>{{Cite web|url=https://www.kia.com/pk/main.html|title=Kia Motors Pakistan &#124; Sedans, Hatchbacks, SUVs & MPVs|website=www.kia.com}}</ref>
+==History==
+It was founded in 2017 for the purpose of assembling and distributing automobiles from the South Korean automobile manufacturer [[Kia]] in Pakistan.<ref>{{cite web|url=https://www.dawn.com/news/1297762|title='Yunus Brothers, Kia Motors to set up auto assembly plant'|first=The Newspaper's Staff|last=Reporter|date=22 November 2016}}</ref> Originally incorporated as Kia Lucky Motors Pakistan, the company changed its name to ''Lucky Motor Corporation Limited''<ref>{{Cite web|date=2020-10-06|title=Why Lucky Motors Removed KIA from its Name?|url=https://www.pakwheels.com/blog/why-lucky-motors-removed-kia-from-its-name/|access-date=2021-03-09|website=PakWheels Blog|language=en-US}}</ref> in 2020. It did so because it added [[Peugeot]] to its business, similarly assembling, distributing, and marketing Peugeot vehicles in Pakistan. Lucky Motor Corporation continues to assemble and market Kia vehicles.
+The manufacturing plant became operational in September 2019.<ref>{{Cite web|url=http://tribune.com.pk/story/1901254/2-kia-lucky-motors-start-vehicle-production-sept|title=Kia Lucky Motors to start vehicle production by Sept|date=January 31, 2019|website=The Express Tribune}}</ref><ref>{{cite web| url=https://www.northlandkia.ca/ |title= Kia Calgary }} Friday, 12 February 2021</ref>
+== Mobile assembly ==
+Lucky Motor Corporation (LMC) began assembling [[Samsung]] smartphones in Pakistan in December 2021, at its plant in [[Port Qasim|Port Qasim Industrial Zone]], [[Karachi]]. The [[Pakistan Telecommunication Authority]] (PTA) issued authorization for its mobile devices in August 2021.<ref>{{Cite web |date=10 August 2021 |title=PTA AUTHORIZES LUCKY MOTOR CORPORATION TO MANUFACTURE SAMSUNG MOBILE DEVICES |url=https://www.pta.gov.pk/en/media-center/single-media/pta-authorizes-lucky-motor-corporation-to-manufacture-samsung-mobile-devices-100821 |access-date=7 November 2023 |website=Pakistan Telecommunication Authority}}</ref>
 == Products ==
@@ Line 33: / Line 44: @@
 * [[Kia Picanto]] ''([[A-segment|City car]])''
 * [[Kia Sportage]] ''([[Compact sport utility vehicle|Compact SUV]])''
-* [[Kia Stonic]] ''([[Crossover_(automobile)#Subcompact_crossover|Subcompact Crossover SUV]])''<ref name=":0" />
+* [[Kia Stonic]] ''([[Crossover (automobile)#Subcompact crossover|Subcompact Crossover SUV]])''<ref name=":0" />
 * [[Kia Sorento]] ''([[Crossover (automobile)|Mid-size Crossover SUV]])''<ref name=":0">{{Cite web|date=2021-02-15|title=New cars set to enter auto sector of Pakistan|url=http://tribune.com.pk/story/2284299/new-cars-set-to-enter-auto-sector-of-pakistan|access-date=2021-02-19|website=The Express Tribune|language=en}}</ref>
 * [[Kia Carnival#KA4|Kia Grand Carnival (KA4)]] ''([[Minivan]])''
@@ Line 39: / Line 50: @@
 === Peugeot ===
-* [[Peugeot 2008]] ''([[Crossover_(automobile)#Subcompact_crossover|Subcompact Crossover SUV]])''<ref name=":1">{{Cite web|date=2021-08-09|title=New cars set to enter auto sector of Pakistan|url=https://propakistani.pk/2021/08/09/lucky-motors-to-launch-new-kia-and-peugeot-cars-in-the-next-few-months|access-date=2021-08-09|website=Propakistani.pk|language=en}}</ref>
+* [[Peugeot 2008]] ''([[Crossover (automobile)#Subcompact crossover|Subcompact Crossover SUV]])''<ref name=":1">{{Cite web|date=2021-08-09|title=New cars set to enter auto sector of Pakistan|url=https://propakistani.pk/2021/08/09/lucky-motors-to-launch-new-kia-and-peugeot-cars-in-the-next-few-months|access-date=2021-08-09|website=Propakistani.pk|language=en}}</ref>
 ==References==
@@ Line 47: / Line 58: @@
 [[Category:Kia Motors]]
+[[Category:Peugeot]]
 [[Category:Yunus Brothers Group]]
-[[Category:Pakistani subsidiaries of foreign companies]]
-[[Category:Joint ventures]]
 [[Category:Car manufacturers of Pakistan]]
 [[Category:Manufacturing companies based in Karachi]]
 [[Category:Privately held companies of Pakistan]]
 {{Pakistan-company-stub}}

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