China’s BYD Plans Car Production Plant In Karachi
Giant electric vehicle manufacturer BYD announced on Saturday that it will establish a car manufacturing facility in Pakistan and begin selling three models there as part of an agreement with Mega Motors.
Due to a lack of infrastructure for charging, BYD is the first significant new electric vehicle (NEV) entrant in the Pakistani market.
BYD's general manager for Asia Pacific, Liu Xueliang, stated, "Our entry into the Pakistani market is not just about bringing advanced vehicles to consumers. It’s about driving a broader vision of environmental responsibility and technological innovation.”
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BYD also intends to open three "flagship stores and experience centres" in Karachi, Lahore, and Islamabad, the company announced at a launch event in Lahore, adding that it will begin selling two SUV models and a sedan in the fourth quarter of 2024.
Mega Motors is part of Pakistan's largest private utility, Hub Power Co Ltd (HPWR.PSX), also 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, calling the deal a "landmark investment".
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The new plant will begin operations in 2026, Kamal told Reuters.
Written By
Anis
Previously in banking and e commerce before she realized nothing makes her happier than a revving engine and gleaming tyres........
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