Chinese electric vehicle leader BYD (002594.SZ) revealed on Saturday its intention to establish a car manufacturing facility in Pakistan, in collaboration with Mega Motors, where it will introduce three vehicle models. BYD marks the initial significant new electric vehicle (NEV) participant in the Pakistani market, which currently lacks adequate charging infrastructure.
"Our venture into the Pakistani market extends beyond introducing sophisticated vehicles to customers," stated Liu Xueliang, BYD's Asia Pacific general manager. "It's a commitment to fostering a wider perspective on environmental stewardship and technological advancement." BYD announced at a launch event in Lahore plans to inaugurate three "flagship stores and experience centers" in Karachi, Lahore, and Islamabad, with sales of two SUV models and a sedan slated to commence in the fourth quarter of 2024.
Mega Motors, a subsidiary of Pakistan's largest private utility Hub Power Co Ltd (Hubco), will facilitate the establishment of Pakistan's inaugural NEV assembly plant, focused on manufacturing BYD's advanced new energy vehicles, according to Hubco CEO Kamran Kamal. Describing the partnership as a "landmark investment," Kamal informed Reuters that the new plant is scheduled to start operations in 2026. Hubco also plans to set up fast-charging stations in major cities, motorways, and highways to bolster Pakistan's charging infrastructure.
