Islamabad: Chinese electric vehicle (EV) maker BYD, which is a fierce competitor to Tesla, The News reported Friday that Pakistan is considering investing in the fledgling EV sector and in talks with the government and potential local partners has been.
According to the Board of Investment (BoI), Pakistan’s central institution for attracting foreign investment, The world’s largest EV manufacturer expressed interest in finding opportunities in Pakistan during a delegation visit this week.
“The delegation is currently on a research tour of Pakistan,” BoI said on its social media platform X on Thursday، Which is facilitated by BOI, including important meetings with potential local partners.
The key update comes after a meeting between a delegation from BYD Company China، Led by Cai Xiao Xu, Head of Dealer Division (South Asia), BOI Secretary Sohail Rajput with Li Jian, Head of Country (Pakistan).
BoI said BYD, recognized as a Fortune 500 company and a global leader in EV manufacturing, has launched four major industries — automobile, rail transit، New energy, and emphasized its presence in electronics.
During the meeting, the BoI Secretary welcomed BYD’s interest in emphasizing the importance of EVs in Pakistan. He assured the BYD delegation of the Government of Pakistan’s commitment to facilitate foreign investors.
BYD is a key player in the manufacture of various vehicles, including battery electric and hybrid cars, buses, and trucks, as well as battery-powered bicycles, forklifts, solar panels, And rechargeable batteries.
Last month, the caretaker Minister of Commerce and Industry, Dr. Gohar Ijaz, revealed that BYD is actively considering investment opportunities in Pakistan. The Minister briefed the BYD delegation on Government Policy and Special Investment Facilitation Council (SIFC), expressing full support for their possible projects.
With its operations in India and various right-handed markets, BYD is emerging as a strong competitor to Tesla and is on track to overtake the latter as the world’s largest EV manufacturer. Chinese company EVs are gaining widespread popularity globally.
