Agencies
Karachi
Chinese electric vehicle giant BYD on Saturday announced plans to open a car production plant in Pakistan, where it will also start selling three models through a partnership with Mega Motors.
BYD is the first major new electric vehicle (NEV) entrant in the Pakistani market, where there is a lack of charging infrastructure.
"Our entry into the Pakistani market is not just about bringing advanced vehicles to consumers,” said Liu Xueliang, BYD’s general manager for Asia Pacific.
"It’s about driving a broader vision of environmental responsibility and technological innovation.”
BYD also plans to open three "flagship stores and experience centres” in Karachi, Lahore and Islamabad, the company said at a launch event in Lahore, adding it plans to start selling two SUV models and a sedan from the fourth quarter of 2024. Mega Motors is a unit of Pakistan’s largest private utility Hub Power known as Hubco.
"We will establish Pakistan’s first NEV assembly plant... dedicated to producing BYD’s cutting-edge new energy vehicles,” said Hubco Chief Executive Kamran Kamal, who described the deal as a "landmark investment”.
The new plant will begin operations in 2026, Kamal told Reuters.
Hubco will setup fast-charging stations across major cities, motorways and highways to enhance Pakistan’s charging infrastructure.
Meanwhile, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb said that there is need to promote investment climate with the purpose to boost up exports here from Pakistan.
The Finance Minister attended the BYD’s Pakistan launch in Islamabad onSaturday. Senator Aurangzeb welcomed BYD’s arrival, highlighting the company’s commitment to cutting-edge technology and environmental stewardship.
"BYD’s entry into our market is not just about introducing new vehicles; it’s about embracing a sustainable future and aligning with Pakistan’s environmental goals, of achieving energy efficiency,”Aurangzeb said. He further emphasised that the government is committed to support such initiatives that will not only advance green technology but will also provide a significant boost to the local economy.