Ghandhara Automobiles Limited (PSX: GAL) announced that its two key agreements with Chery Automobile Co., Limited are set to expire today. The agreements, namely the Distribution Agreement and the KD Supply Agreement, had appointed Ghandhara as the exclusive distributor and authorized representative of Chery Automobiles in Pakistan.
In a stock filing, Ghandhara stated, “Both of the aforesaid agreements are set to expire today. However, please note that both GAL and Chery Automobile Co., Limited continue to remain in negotiations to finalize a smooth transition.”
Despite the expiration of the agreements, Ghandhara confirmed that it will continue to sell Chery-branded vehicles and provide aftersales services to customers during the transition period, as per the understanding between the two parties.
The company assured stakeholders that discussions with Chery are ongoing to ensure a seamless transition and continuity of operations. Further updates are expected as negotiations progress.
