Chinese electric vehicle giant BYD (002594.SZ) announced plans on Saturday to open a car production plant in Pakistan, where it will also start selling three models as part of a partnership with Mega Motors.
BYD is the first major new electric vehicle (NEV) maker to enter the Pakistani market, where charging infrastructure is lacking.
“Our entry into the Pakistani market is not just about bringing cutting-edge vehicles to consumers,” said Liu Xueliang, BYD’s general manager for Asia Pacific.
“It’s about promoting a broader vision of environmental responsibility and technological innovation.
BYD plans to open three “flagship stores and experience centers” in Karachi, Lahore and Islamabad, the company said at a launch event in Lahore, adding that it plans to sell two SUV models and a sedan from fourth quarter of 2024. .
Mega Motors is a unit of Pakistan’s largest private utility company, Hub Power Co Ltd (HPWR.PSX), known as Hubco.
“We will establish the first new energy vehicle assembly plant in Pakistan … dedicated to the production of BYD’s pioneering new energy vehicles,” said Kamran Kamal, managing director of Hubco, who called the deal a “historic investment”.
The new factory will start operations in 2026, Kamal told Reuters.
Hubco will install fast charging stations in major cities, highways and roads to improve Pakistan’s charging infrastructure.