Sunday, April 21, 2024

Chinese Automaker to Establish Electric Vehicle Manufacturing Plant in Pakistan

The Board of Investment (BOI) has agreed to make it easier for China’s largest automaker to join Pakistan and create the country’s first private special economic zone (SEZ) in Raiwind, Punjab.

MG JW Automobile will build an electric car factory with an approximate foreign direct investment (FDI) of Rs663 million and a local investment of Rs637 million.

JW-SEZ (Private) Limited and SMIL, a subsidiary of SAIC Motor Corporation Limited, have partnered to form MG JW Automobile (MG Pakistan). SAIC is a multinational Chinese state-owned automotive design and production company based in Shanghai.

It is China’s largest car producer and the seventh largest in the world. SAIC bought the prestigious British brand Morris Garages (MG) in 2006 and now sells cars under that brand all over the world.

The BOI received MG JW Automobile Pakistan’s zone entry application through its recently launched “SEZ MIS Module,” which serves as a one-stop shop for SEZs in Pakistan. The module is intended to make it easier for real investors from all over the world to gain access to SEZs while retaining total transparency.

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