Dewan Farooque Motors Resumes Commercial Production of KIA Shehzore

Dewan Farooque Motors Limited (PSX: DFML) has resumed the commercial production of “Special Purpose KIA Commercial Vehicle” with its product name KIA ‘SHEHZORE’ and its rollout/launch ceremony has been scheduled on June 4, 2024, the assembler informed the main bourse on Wednesday. “We look forward to continue serving the people of Pakistan with high-quality products and after-sales services through our strong nationwide dealership network,” DFML said in a stock filing. DFML initially announced the commencement of the local assembly of KIA commercial vehicles in Pakistan on February 16, 2024. Back in 2022, DFML first announced that it had entered into a Technology License Agreement (TLA) with KIA Corporation (Commercial), Republic of Korea, for the production/assembly of special-purpose commercial vehicles. “The management of Dewan Farooque Motors Limited is pleased to announce the start of local assembly operations of special purpose KIA Commercial Vehicles in Pakistan with its product KIA SHEHZORE very soon in 2024,” it said in a stock filing at the time. The principal activity of the Company is assembling, progressive manufacturing, and sale of vehicles in Pakistan.