As the dust settled from Dewan Motors' temporary halt in operations, Dewan Mohammad Yousuf Farooqui remained determined. He knew that for Dewan Motors to rise again, it needed strong international backing. The road to revival led him to seek out **foreign investors** who could inject capital, provide technological expertise, and restore confidence in the brand.
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### **Setting the Stage for Negotiations**
It was **2016**, and the global automobile market was evolving rapidly. Pakistan's economy was showing signs of recovery, and consumer demand for automobiles was on the rise. Dewan Motors needed a **strategic partner** to re-enter the industry with force. Yousuf and his team set their sights on **Hyundai and Kia once again**, but this time, they also considered **Chinese and European investors**.
In a sleek, glass-walled office at Dewan House, Karachi, Yousuf convened a high-stakes meeting with his core team. Around the table sat **Salman Farooqui (COO)**, **Nadia Hussain (CFO)**, **Sikandar Mehmood (Head of Operations)**, and a few key legal and financial advisors.
Yousuf leaned forward, his eyes sharp. **"This time, we must secure a deal that guarantees long-term sustainability. We can't afford to let what happened in 2008 repeat itself."**
Nadia, reviewing financial reports, sighed. **"The numbers indicate that a direct licensing agreement, like last time, won't be enough. We need a full-fledged joint venture. Equity stakes, manufacturing rights, and a clear technology transfer clause."**
Sikandar nodded. **"We've reached out to Hyundai and Kia, and they're willing to listen. But we should also explore options with Chinese manufacturers like Changan and FAW. They're aggressively entering emerging markets."**
Salman tapped the table, emphasizing each word. **"We must tread carefully. Investors will be hesitant given our past collapse. We need to reassure them that we have learned from our mistakes."**
Yousuf stood up, pacing. **"Then let's fly to Seoul and Beijing. We have work to do."**
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### **Talks in Seoul: Rekindling the Hyundai Partnership**
A week later, Yousuf and his team landed in **Seoul, South Korea**. The city was a fusion of modernity and tradition, much like Dewan Motors hoped to be—a company rooted in legacy but driven by the future.
At the **Hyundai Motor Company headquarters**, they were greeted by senior executives, including **Vice President Lee Sung-hoon** and **Chief Strategist Park Ji-hoon**. The meeting was set in a spacious boardroom overlooking the Han River.
Lee adjusted his glasses and began. **"Mr. Dewan, we admire your perseverance. However, given the past setbacks, why should Hyundai trust Dewan Motors again?"**
Yousuf remained composed. **"We have restructured our financial model, improved our production capabilities, and learned from our past mistakes. More importantly, Pakistan's auto market is booming. Hyundai has a chance to establish a dominant presence before others step in."**
Park leaned forward. **"What terms are you proposing?"**
Nadia handed over a detailed document. **"A **joint venture** with Dewan Motors holding a 40% stake and Hyundai 60%. We want full-scale assembly rights, a local production facility expansion, and technology transfer to eventually localize manufacturing."**
Lee raised an eyebrow. **"That's ambitious. But we like ambition."**
After hours of discussion, Hyundai agreed to **consider the deal**, pending further negotiations.
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### **Exploring Chinese Partnerships**
From Seoul, the team traveled to **Beijing**, where they met with **Changan Auto and FAW Group**. The Chinese automakers were eager to expand into **South Asia**, seeing Pakistan as a prime market.
In a private conference room at **FAW's headquarters**, **CEO Zhang Wei** studied Dewan's proposal. **"We can offer competitive pricing, high-tech electric vehicle options, and full-scale manufacturing capabilities. But we would require majority control—65%."**
Salman countered. **"That wouldn't be in Pakistan's best interest. We need local control to ensure job creation and economic growth."**
After intense back-and-forth discussions, FAW proposed an alternative—**a 50/50 partnership**, where Dewan Motors would handle local operations while FAW provided technology and funding.
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### **Government Backing and Final Decisions**
As negotiations progressed, Dewan Motors also needed **government support**. Yousuf met with officials in Islamabad, presenting a case for **policy incentives, tax breaks, and auto financing programs** to make locally assembled cars affordable.
A key meeting with the **Minister of Industries and Production** proved fruitful.
**"A strong auto sector means a strong economy,"** Yousuf argued. **"We need policies that encourage investment, protect local businesses, and ensure long-term sustainability."**
The minister nodded. **"We're willing to support Dewan Motors, provided you can bring in solid foreign investment and create jobs."**
With government backing secured, it was time to make a final decision.
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### **The Chosen Path**
Back in Karachi, Yousuf and his team weighed the options.
- **Hyundai's proposal** offered brand recognition but required a higher initial investment.
- **FAW's proposal** provided cost-effective manufacturing but at the expense of some control.
- **Changan's offer** was promising but less proven in Pakistan.
After long deliberations, the decision was made—**Dewan Motors would partner with Hyundai once again, with plans to introduce a mix of fuel-powered and hybrid vehicles.**
At the signing ceremony in Seoul, Yousuf and Lee shook hands as cameras flashed.
**"This marks a new era for Dewan Motors,"** Yousuf declared. **"We are back, stronger than ever."**
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### **Conclusion**
Chapter 15 details the intense negotiations Dewan Motors undertook to secure foreign investment, rekindle old alliances, and navigate a path to revival. With the Hyundai deal in place, the company set the stage for a remarkable comeback in Pakistan's auto industry.