China’s leading electric vehicle maker, BYD and Mega Conglomerate Private Limited plans to invest in Pakistan to produce advanced electric vehicles.
BYD’s investment aligns with Pakistan’s efforts to reduce carbon emissions and embrace cleaner transportation.
The move aims to enhance the availability of eco-friendly vehicles for Pakistani consumers and spur growth in the nation’s automotive sector.
BYD intends to produce electric vehicles in Pakistan, opening avenues for the country to export Right Hand Drive (RHD) vehicles.
This investment underscores the effectiveness of the Special Investment Facilitation Council’s efforts to draw foreign investment.
Recently, Pakistan and China decided to create a Working Group (WG) on five new economic corridors under CPEC’s second phase, adhering to the 5Es framework designed by the Planning Ministry.
The decision emerged from a dialogue between Planning Minister Professor Ahsan Iqbal and Chinese Ambassador Jiang Zaidong, highlighting a mutual commitment to accelerate CPEC phase 2 and launch new economic corridors focusing on job creation, innovation, green energy, and inclusive regional development.
