The biggest electric car manufacturer in China, BYD, has indicated interest in investing in Pakistan to produce cutting-edge electric vehicles with the help of Mega Conglomerate Private Limited, a local partner.
This occurs while Pakistan is implementing energy-efficient transportation methods and lowering its carbon footprint to promote cleaner air.
Through this program, Pakistan’s auto sector would develop and consumers will have easier access to green products.
Unmute BYD will produce electric cars locally in Pakistan, allowing the country to export cars with right-hand drive (RHD).
The Special Investment Facilitation Council’s efforts to draw in foreign investment are greatly aided by BYD’s investment.
Prior to this, China and Pakistan decided to form a Working Group (WG) on five new economic corridors as part of the second phase of the China-Pakistan Economic Corridor (CPEC), in accordance with the Planning Ministry’s previously developed 5Es framework.
A press release stated that the agreement was made during a meeting that lasted more than an hour here at the Planning Ministry between Chinese Ambassador to Pakistan Jiang Zaidong and Federal Minister of Planning, Development, and Special Initiatives Professor Ahsan Iqbal.
“While opting to form a working group on five new economic corridors, including the Corridor of Job Creation, Corridor of Innovation, Corridor of Green Energy, and Inclusive Regional Development,” the parties “agreed to expedite phase 2 of the CPEC” during the meeting.
