Beijing: Pakistan is entering a new era in automotive technology following the announcement of a partnership between HUB Power Holdings Limited and Chinese auto tycoon BYD (Build Your Dreams), which will see the introduction of electric vehicles (EVs). Pakistani market.
The news comes at a time when Prime Minister Shehbaz Sharif’s government is looking to attract investment to the country to boost its foreign reserves.
This partnership includes an agreement to acquire land and critical infrastructure in Pakistan to facilitate an efficient manufacturing process, all of which demonstrate HUB Power’s commitment to leveraging expertise and resources in the automotive sector, and its technological expertise to drive innovation in the China Economic Net (CEN) automotive sector reported.
According to HUB Power, there are huge economic benefits and many business opportunities available in local electric vehicle manufacturing.
Pakistan, like other developing countries, is facing the challenge of increasing air pollution and greenhouse gas emissions.
These efforts will not only meet the needs of the local automotive market, but will also contribute integrally to Pakistan’s sustainable development goals with global efforts to limit carbon emissions and promote clean energy solutions, as well as combat climate change.
BYD overtook Tesla last year to become the world’s largest electric car maker.
In 2023, it finished with a record sales volume of more than 3 million and became the global new energy vehicle (NEV) sales champion for the second year in a row.
To date, the car giant’s overseas operations include Chile, Brazil, Colombia, Mexico, Costa Rica and many other countries, and its electric vehicles have reached six continents, more than 50 countries and regions, and more than 200 cities around the world.
Additionally, BYD’s decision to develop electric car production in Pakistan paves the way for the export of Right Hand Drive (RHD) vehicles, serving a larger market.
