Loading AI tools
Pakistani automobile manufacturer From Wikipedia, the free encyclopedia
Lucky Motor Corporation (LMC) is a Pakistani automobile manufacturer and distributor which is a subsidiary of Lucky Cement.
  | |
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Automotive |
| Founded | 2017 |
| Headquarters | Karachi, Pakistan |
| Products | Automobiles |
| Revenue |  Rs. 82.0 billion (US$280 million) (2023) |
| 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 |
| Footnotes / references Financials as of 30 June 2023[update] [1] | |
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]
In the first quarter of 2023, Lucky Motors increased the prices of Kia cars, primarily due to the imposition of heavy taxes by the government.[6][7] This sudden increase in prices significantly affected the affordability of the vehicles for the general public, leading to a substantial decline in the company's sales figures.[8]
Lucky Motor Corporation (LMC) began manufacturing Samsung smartphones in Pakistan in December 2021, at their plant in Port Qasim Industrial Zone, Karachi.[9] The Pakistan Telecommunication Authority (PTA) issued authorization for mobile device manufacturing to LMC in August 2021.[10]
Seamless Wikipedia browsing. On steroids.
Every time you click a link to Wikipedia, Wiktionary or Wikiquote in your browser's search results, it will show the modern Wikiwand interface.
Wikiwand extension is a five stars, simple, with minimum permission required to keep your browsing private, safe and transparent.
