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Saturday, February 4, 2023
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China to make electric vehicles in Pakistan

BYD, the Chinese multinational company and world's largest electric vehicles manufacturer with turnover of $250 billion, is all set to enter Pakistan.

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BYD, a major Chinese manufacturer of electric and hybrid vehicles based in Shenzhen showed interest in setting up their manufacturing unit in Pakistan.

Pakistan Ambassador to China, Moin ul Haque was briefed by senior executives of BYD Co.Ltd during a recently held virtual meeting.

He was accompanied by the Embassy’s economic team, Pakistan’s Consul-general in Guangzhou also attended the meeting. During the meeting, an extensive discussion about the investment landscape of Pakistan was held.

BYD’s executives briefed the ambassador about their company and entering the Pakistani market and interest in setting up their manufacturing unit.

BYD Co. Ltd is a major Chinese manufacture of electric and hybrid vehicles based in the city of Shenzhen.

Ambassador Haque noted that robust economic cooperation between Pakistan and China, and invited BYD’s investment in Pakistan.

Read more: Pakistani companies launch country’s first commercial electric vehicle

He briefed them about the attractive policies o the Government of Pakistan for investment in eclectic vehicles sector, and assured the Chinese enterprise of Embassy’s full support for its planned endeavours in Pakistan.

BYD, the Chinese multinational company and world’s largest electric vehicles manufacturer with turnover of $250 billion, is all set to enter Pakistan.

The development was announced by Pakistan Electric Vehicles & Parts Manufacturers and Traders Association (PEVPMTA) General Secretary Shaukat Qureshi while talking to local media.

Read more: China’s 3rd top car company soon to enter Pakistan

“Toyota, the world auto giant, for the first time signed an agreement on November 7, 2019, to develop Electric Vehicles with BYD, the world’s largest electric vehicles manufacturer, with 44 plants around the globe employing 250,000 personals, with turnover of $250 billion,” he said. “Scenario will definitely change in Pakistan as well, with the Japanese companies roll out their models by 2024,” he added.

APP with additional input by GVS News Desk