Chinese firm to establish electric vehicle plant in Pakistan
ISLAMABAD: A Chinese electric car manufacturing company has announced establishing an electric vehicle (EV) plant in Pakistan and chain of showrooms in major cities of the country.
This announcement was made by a delegation of XinjianJingyi Cheng Group, led by its assistant chairman GU Xongquan, during a meeting with FPCCI Vice President Amin Ullah Baig here on Thursday.
Mr Baig, who is also chairman of the FPCCI Capital Office, held an extensive discussion with the Chinese firm’s team on the investment landscape of Pakistan.
Mr GU said entering Pakistani market and setting up a manufacturing unit and showrooms was in the interest of the company and part of its long-term business plan.
XinjianJingyi Cheng Group is engaged in five industries — electromechanical and hydraulic, light power, vehicle, international trade and production and service.
Mr GU said cars were the main means of transport in Pakistan, while the rising global oil prices have led to a sharp increase in gasoline prices, making it imperative for consumers to switch to new energy markets.
“In the long run, electric cars save much more fuel cost than petrol-run vehicles,” he said, adding that XinjianJingyi Cheng Group emphasises the innovation and development of automobiles with modern technology and integration of resources.
Mr Baig asked the Chinese firm’s delegation to expedited their investment plans which will be mutually beneficial. He noted that Chinese auto brands operating in Pakistan are popular among the masses, and China is leading the development of key technologies for electric vehicles.