Porsche Pakistan says parent company attempting to 'bankrupt and discredit' it

Porsche Pakistan has accused parent company Porsche AG for trying to ‘bankrupt and discredit’ the company.

In a statement, Porsche Pakistan said that the CEO of Porsche Pakistan does not owe any sum of money as claimed and all payments were received by Performance Automotive Private Limited (Porsche Pakistan) against vehicle bookings under legal contracts on behalf of Porsche AG as their appointed representative.

The statement comes after complaints were filed in different police stations in Lahore against the Porsche Centre Lahore Performance Automotive Pvt Ltd owner Syed Abuzar Bokhari. They claimed that they had given him advance amounts to buy new Porsche Taycan 4S cars, but did not get any vehicle.

It was reported that Bokhari had received around Rs50 million in advance from them, giving them a specific time for the delivery of the electric vehicle.The complainers alleged that Bokhari had told them that he could not deliver the cars and they could take their money back.

Meanwhile, Porsche Pakistan stated that “Porsche AG has illegally, in our views, for over two years refuse to supply vehicles to Pakistani customers.” Porsche Pakistan added that it has legally challenged the irresponsible actions of Porsche AG At All legal forms available to us in Pakistan.

“Porsche Pakistan has also since mid 2020 filed arbitration against Porsche AG at London Court of International Arbitration. The process is underway and we expect a conclusion in the coming weeks.”

“It is our belief and understanding that the actions of stopping supply was an attempt to bankrupt and discredit Porsche Pakistan with the eventual aim to transfer the business to an influential and controversial business group with which a prearrangement was concluded by the regional office of Porsche AG (Porsche Middle East and Africa FZE),” it added.