Nishat Group is setting up a $100 million electric vehicle (EV) manufacturing venture in Pakistan in partnership with China’s Chery Automobile Co., reported Bloomberg.
The group’s subsidiary, NexGen Auto Pvt., will launch five vehicles under Chery’s Omoda and Jaecoo brands at an event on Friday, with local assembly to begin in October, according to CFO Muhammad Aqib Zulfiqar.
Nishat finalized the partnership after visiting China and evaluating several automakers. Zulfiqar said Chinese manufacturers lead globally in EV technology and cost efficiency.
Nishat is expanding its portfolio amid growing EV interest. Multiple Chinese brands have launched EVs in Pakistan in the past year, and BYD plans local production in 2025.
Zulfiqar urged the government to accelerate EV policy implementation, particularly licensing for charging stations. Pakistan aims to increase EVs to 30 percent of total vehicle sales, imports, and production by 2030.
