Type Corporation Products Automobiles Founded 15 January 2000 | Industry Automotive Website www.yousufdewan.com Parent organization Dewan Mushtaq Group | |
Headquarters Karachi, Sindh, Pakistan Key people Dewan Muhammad Yousuf Farooqui, CEO | ||
Dewan Farooque Motors (Urdu: دیوان فاروق موٹر) is a Pakistani automobile manufacturer based in Karachi, Pakistan and part of the Dewan Mushtaq Group. Dewan Farooque Motors is the authorized assembler and manufacturer of Kia-Hyundai vehicles since 1998 at its assembly plant in Sujawal.
Contents
History
Dewan Farooque partnered with Korean brands like Hyundai and Kia to produce its first car on January 15, 2000. The company received an extraordinary response especially for its Hyundai Santro and Hyundai Shahzore models. Company sales grew well until 2008 when it faced various challenges. In 2009, automobile production stopped. After a gap of three years, Dewan Farooque Motors produced a few hundred cars in fiscal year 2014 and 2015 based on its old inventory. Dewan Farooque Motors Limited in October 2016 announced that the company will restart assembling vehicles in 2017. With the rising demand of automobiles in Pakistan coupled with offer for incentives and tax relaxation offer in the government’s automobile policy, reports of developments were received that the automobile maker was flexing its muscles for last couple of years, however it was formally disclosed in August 2016 that its management submitted a plan to resume productions in relevant authorities — Board of Investment (BoI) and the Engineering Development Board (EDB).