{"id":413987,"date":"2024-06-23T09:22:29","date_gmt":"2024-06-23T04:22:29","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=413987"},"modified":"2024-06-23T09:22:29","modified_gmt":"2024-06-23T04:22:29","slug":"electric-vehicles-to-be-manufactured-in-pakistan","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/electric-vehicles-to-be-manufactured-in-pakistan\/","title":{"rendered":"Electric vehicles to be manufactured in Pakistan"},"content":{"rendered":"<p> KARACHI<br \/>\nHub Power Holdings Limited, a wholly-owned subsidiary of The Hub Power Company Limited, is entering into electric vehicle market in Pakistan in collaboration with China\u2019s BYD Auto Industry Company Limited, ARY News reported on Friday.<br \/>\nThe company shared the development through a notice to the Pakistan Stock Exchange (PSX) on Friday, noting that the move will be executed through its associated company, Mega Motor Company (Private) Limited.<br \/>\n\u201cWe hereby convey the following information: Hub Power Holdings Limited, a wholly owned subsidiary of The Hub Power Company Limited, through its associated company, Mega Motor Company (Private) Limited, is entering into a new line of business in electric vehicles, with BYD Auto Industry Company Limited, in Pakistan,\u201d HUBCO said in its notice.<br \/>\nThe consummation of this new venture will include the execution of definitive agreements and the purchase of assets and is subject to corporate and regulatory approvals and consents, it added.<br \/>\nChina\u2019s BYD, known for its pioneering work in electric vehicle production, notably outpaced Tesla in 2023 to claim the top spot for the highest number of electric vehicles manufactured globally.<br \/>\nThis comes at a time when Pakistan is taking steps to reduce its carbon footprint and adopt more energy-efficient means of transportation for cleaner air.<br \/>\nThis initiative will make green products more accessible to Pakistani consumers as well as take Pakistan\u2019s auto industry on the path of growth.<br \/>\nEarlier in April, BYD along with its local partner Mega Conglomerate Private Limited expressed interest in investing in Pakistan to manufacture advanced electric vehicles.<br \/>\nBYD will manufacture electric vehicles locally in Pakistan, which will enable Pakistan to export Right Hand Drive (RHD) vehicles.<br \/>\nBYD\u2019s investment is a major testament to the Special Investment Facilitation Council\u2019s drive to attract foreign investment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI Hub Power Holdings Limited, a wholly-owned subsidiary of The Hub Power Company Limited, is entering into electric vehicle market in Pakistan in collaboration with China\u2019s BYD Auto Industry Company Limited, ARY News reported on Friday. The company shared the development through a notice to the Pakistan Stock Exchange (PSX) on Friday, noting that the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":413977,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-413987","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Electric vehicles to be manufactured in Pakistan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/electric-vehicles-to-be-manufactured-in-pakistan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Electric vehicles to be manufactured in Pakistan\" \/>\n<meta property=\"og:description\" content=\"KARACHI Hub Power Holdings Limited, a wholly-owned subsidiary of The Hub Power Company Limited, is entering into electric vehicle market in Pakistan in collaboration with China\u2019s BYD Auto Industry Company Limited, ARY News reported on Friday. 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