KARACHI (Reuters) – Chinese language electrical car big BYD (SZ:.SZ) on Saturday introduced plans to open a automobile manufacturing plant in Pakistan, the place it can additionally begin promoting three fashions by means of a partnership with Mega Motors.
BYD is the primary main new electrical car (NEV) entrant within the Pakistani market, the place there’s a lack of charging infrastructure.
“Our entry into the Pakistani market is not only about bringing superior autos to shoppers,” mentioned Liu Xueliang, BYD’s basic supervisor for Asia Pacific.
“It is about driving a broader imaginative and prescient of environmental duty and technological innovation.”
BYD additionally plans to open three “flagship shops and expertise centres” in Karachi, Lahore and Islamabad, the corporate mentioned at a launch occasion in Lahore, including it plans to start out promoting two SUV fashions and a sedan from the fourth quarter of 2024.
Mega Motors is a unit of Pakistan’s largest non-public utility Hub Energy Co Ltd (HPWR.PSX), referred to as Hubco.
“We are going to set up Pakistan’s first NEV meeting plant… devoted to producing BYD’s cutting-edge new power autos,” mentioned Hubco Chief Government Kamran Kamal, who described the deal as a “landmark funding”.
The brand new plant will start operations in 2026, Kamal informed Reuters.
Hubco will setup fast-charging stations throughout main cities, motorways and highways to boost Pakistan’s charging infrastructure.
