KUWAIT: Al-Qurain Automotive, part of the A Aziz Ali Al-Mutawa Group of Companies, announced that it has mutually agreed with Volvo Cars and BNK Automotive, owned by Bader Al-Kharafi, the transfer of the Volvo Cars agency while retaining the Volvo truck and bus businesses. Earlier this year, following a rigorous selection process by the Swedish manufacturer, BNK Automotive was selected as the new official exclusive importer of the Swedish emblem.

The epitome of true Kuwaiti family tradition and culture, Ahmad A Aziz Al-Mutawa and Bader Nasser Al-Kharafi ensured that from the onset of the process, respect and professionalism were at the highest standard. Following the signing of the new agency agreement in September 2019, both parties entered into an agreement which would secure a smooth transition of the agency while protecting the interest of Volvo Cars as well as its customers in Kuwait.

Bader Al-Kharafi commented: "I would like to thank Mr Ahmed Al-Mutawa and his team on their professionalism and work ethic during this lengthy process which led to a mutual agreement on the transfer of the agency and the way forward. It is truly my pleasure to represent a brand like Volvo in Kuwait and we appreciate all the hard work of Al-Mutawa over the past 60 years to build the brand and we aim to continue doing so".

Ahmed A Aziz Al-Mutawa, Chairman and CEO of Al-Qurain Automotive, stated: "On behalf of myself, the board of directors and the Mutawa's Volvo team, we wish BNK Automotive, the new importer of Volvo Cars in Kuwait, the best of luck and success in this new endeavor, and would also like to highlight the highest standard of professionalism and respect of Mr Al-Kharafi and his team during this friendly process. The bond between our families definitely played a role in smoothening the process and ensuring agreeable terms for both parties with a focus on providing the best service to all customers".

Al-Kharafi added: "The automotive industry is rapidly changing amid this fourth industrial revolution as are many other industries. Volvo Cars has proven over the last 3 years a clear strategy to rebuild its products, brand and technology in line with evolution. I am a believer in the future of connected cars, autonomous driving and electric cars and we have aligned with the Volvo team on these themes in the near future. We plan to disrupt and to offer a new and different experience for our customers in Kuwait. Our ultimate goal is to provide the best customer experience as we have done in many other businesses".

On the other hand, Volvo Cars stated: "We thank Al-Mutawa family for their dedication and passion for the Volvo brand over the last 60 years and we are proud to have completed a transition process which was concluded smoothly between Al-Mutawa and Al-Kharafi. Both parties showcased utmost respect and professionalism and we are delighted that the Volvo customer's interests were the focal point on both sides."

Finally, BNK Automotive and Al-Qurain Autmotive are delighted to announce that as of the 15th of January 2020, the Volvo Cars agency will officially change home within the State of Kuwait. All customers will be reached in due time and the parties are committed to serve any new or existing customers.

About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected premium car brands in the world with sales of 642,253 cars in 2018 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding of China since 2010.
Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected into a number of business ambitions: By the middle of next decade it aims for half of its global sales to be fully electric cars and to offer half of all cars to customers via its subscription service. By then, it also expects one-third of its cars sold to be autonomous.