Ghandhara Automobiles Limited (PSX: GAL) two agreements with Chery Automobile Co., Limited are set to expire today.
“Ghandhara Automobiles Limited (GAL) had entered into two agreements namely the Distribution Agreement and KD Supply Agreement respectively with Chery Automobile Co., Limited pursuant to which GAL had been appointed as the exclusive distributor and authorized representative of Chery Automobiles Co., Limited in Pakistan. It is brought into your knowledge that 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,” it said in a stock filing today.
As per the understanding between both parties, GAL will continue to sell Chery Brand vehicles and provide aftersales services to its customers in the transition period, the filing added.