Islamabad August 19 2024: 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.
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 emphasized 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 by creating new job opportunities and fostering technological advancements in the automotive sector. Additionally, he added that the presence of a major global player like BYD could enhance Pakistan’s export potential in the burgeoning electric vehicle market, aligning with national strategies to increase high-tech exports and reduce trade imbalances.
Mega Motors is a unit of Pakistan’s largest private utility Hub Power Co Ltd (HPWR.PSX), 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.
