China's BYD plans to plant cars in Karachi as part of Pakistan entry By Reuters
KARACHI (Reuters) – Chinese electric car giant BYD (SZ:.SZ) on Saturday announced plans to open a car manufacturing plant in Pakistan, where it will start selling three models in partnership with Mega Motors.
BYD is the first major new electric vehicle (NEV) to enter the Pakistani market, where there is no charging infrastructure.
“Our entry into the Pakistani market is not just about bringing high-quality cars to consumers,” said Liu Xueliang, general manager of BYD in 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 centers” in Karachi, Lahore and Islamabad, the company said at a launch event in Lahore, adding that 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 Co Ltd (HPWR.PSX), known as Hubco.
“We will set up Pakistan's first NEV assembly plant… dedicated to the production of BYD new energy vehicles,” said Hubco Chief Executive Kamran Kamal, who described the deal as a “historic investment”.
The new plant will start operating in 2026, Kamal told Reuters.
Hubco will set up fast charging stations in all major cities, highways and highways to improve Pakistan's charging infrastructure.
