Shaheer Ahmed
Pakistan is bringing innovation and development to different sectors of the country. The automobile sector is one of them. Seems like, the sector is all set to go through a much-needed transformation. In March, the government expressed the aim of manufacturing 500,000 two and three-wheelers and around 100,000 electric vehicles. Attempts are being made by the government to attain this goal. Recently, a Chinese company has decided to set up an electric vehicle plant in Pakistan.
Electric Vehicles in Pakistan
Electric vehicles are eco-friendly. It is said “Keeping in view the fact that almost all the vehicles are fueled via oil-based products —which makes up around 25% of the total import bill — therefore, any potential shift towards hybrid/electric vehicles is expected to ease significant pressure off the import bill.” Moreover, an electric vehicle plant will help Pakistan manufacture electric vehicles locally. Also, the country would become an exporter of electric vehicles. According to Pakistan’s new electric vehicle policy, the demand for oil products will be reduced considerably by 2030. Electric vehicles in Pakistan will revolutionize the automobile sector.
Chinese company to build electric vehicle plant in Pakistan
In a recent development, a Chinese company Gauss Auto Group is planning to set up an electric vehicle plant in Pakistan. The company believes in innovation and has plans on exporting locally manufactured electric vehicles to other countries. Gauss Auto Group is registered with Silicon Valley.
The electric vehicle plant would be a joint venture of the Gauss Auto Group and AKD Group Holdings (Pvt) Limited. A delegation led by CEO Chen Feng of Gauss Auto Group and CEO Nasir Rizwan of AKD Group Holding, visited the BOI. Details regarding the plant were briefed in a meeting to Chaudhry Salik Hussain, the Federal Minister Board of Investment (BOI), and Fareena Mazhar, the BOI Secretary.
The electric plant would be established in Karachi near Port Qasim. The area covered would be around 1,000 acres. BOI secretary expressed that Pakistan will provide the company with all the facilities required. Moreover, it was assured that the country supports and facilitates the foreign and local investors alike.
The foreign direct investment in the automobile sector will open new avenues for technological upgradation. This joint venture will help Pakistan grow and generate revenue, thus will bring economic stability.
