
In a startling development in the automotive sphere of Pakistan, an illustrious electric vehicle (EV) manufacturer is gearing to enter the country through Mega Motor Company (Pvt) Limited.
Mega Motor Company (Pvt) Limited has inked a deal with the BYD Auto Industry Company Ltd to manufacture and sell its EVs in Pakistan, as reported by The News.
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The development came to light in a stock filing on Thursday wherein Hub Power Company Ltd (Hubco) informed the Pakistan Stock Exchange (PSX) that Mega Motor Company, a subsidiary of Hubco, has signed a master supply and manufacture agreement with BYD to manufacture, market, distribute and sell BYD brand passenger vehicles in Pakistan.
“BYD’s leading technology coupled with our local expertise will catapult Pakistan’s automotive sector into the future offering customers variety and choice from the world’s leading automotive technology company,” read the statement.
The Hubco subsidiary will also oversee matters regarding technical licence agreements for the EV maker's licenced products.