Despite security concerns for Chinese nationals in Pakistan, investment from China in the automobile sector has picked up recently. All eyes are now on the entry of new electric vehicles (NEVs), especially BYD and its electric vehicle (EV) collaboration with Mega Motor Company (MMC), an associated company of the Hub Power Company Limited (Hubco).
They are establishing a plant near Karachi with an annual capacity of 50,000 units and an investment of about $150 million.
Prior to BYD, Regal Automobiles Industries Limited recently unveiled Pakistan’s first locally assembled electric sport utility vehicle (SUV), the Seres 3 — priced at over Rs8m — at its Lahore plant.
Furthermore, on December 5, 2024, Dewan Farooque Motors Limited informed the Pakistan Stock Exchange regarding the assembly of more than 100 units of Horni EV and handing them over to Eco Green Motors Limited for deliveries to customers.
‘Selling 50,000 units a year in the first phase would save $250-300m on the conservative side of fossil fuel imports’
However, in a difficult and insecure political environment, it seems that Chinese investors and their local partners in Pakistan, though apparently concerned, are more determined to change the landscape of the auto market from fossil fuel to electrified vehicles.
As per media reports, at least two Chinese nationals were killed with a third injured after their convoy was attacked near the Jinnah International Airport on October 6, while in March........