Friday, May 31, 2024

Chinese EV Giant BYD Expressed Interest to Invest in Pakistan

China’s top electric car maker BYD, along with local partner Mega Conglomerate Private Limited, is interested in investing in Pakistan to produce advanced electric vehicles, aiming to support the country’s efforts in reducing pollution and adopting cleaner transportation options.

This investment will not only bring environmentally friendly vehicles to Pakistani consumers but also help expand the country’s automotive industry. BYD plans to manufacture electric vehicles locally and export Right Hand Drive (RHD) vehicles from Pakistan.

This initiative reflects the government’s efforts to attract foreign investments, especially as Pakistan and China collaborate on new economic corridors under the China-Pakistan Economic Corridor (CPEC).

During a recent meeting, Pakistani officials and the Chinese Ambassador discussed plans to establish five new economic corridors focusing on job creation, innovation, green energy, and regional development, showcasing a strengthened partnership between the two countries in promoting economic growth and sustainability.

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