KARACHI — Chinese electric vehicle giant BYD (002594.SZ) 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.
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“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.
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.
(Reporting by Ariba Shahid in Karachi and Mubasher Bukhari in Lahore)
