Chinese Company Announces to Establish EV Plant in Karachi
A Chinese corporation the ‘Gauss Auto Group,’ is set to establish an electric vehicle (EV) manufacturing plant in Karachi.
According to a press release issued by the Board of Investment (BOI), the EV plant will be a joint venture between the Chinese group and AKD Group Holdings (Pvt.) limited. The anticipated plant will be constructed in Pakistan’s special economic zone on around 1000 acres near Port Qasim, Karachi.
Development and innovation of vehicles is a primary goal of the Chinese group. Whereas it is pertinent to mention that they are also focusing on integrating resources. It is a company registered in Silicon Valley, California. However, it is based and operates in Shanghai, China.
What Went Down?
Mr. Chen Feng, CEO Gauss Auto Group and CEO AKD Group Holding, Mr. Nasir Rizwan along with a delegation visited the Federal Minister Board of Investment Chaudhry Salik Hussain and Secretary BOI Ms. Fareena Mazhar to discuss the plans regarding the development of the EV plant.
Members of the delegation emphasized the significance of exporting locally produced EVs from Pakistan. Moreover, they give insights into the production plant for manufacturing electric vehicles and notified the BOI management regarding the automobile variants they are already producing.
Secretary BOI notified the Chinese delegation regarding Pakistan’s recently launched Electric Vehicle policy approved by the federal cabinet on 22 December 2021, which gives advantages to both old and new auto manufacturers.
The BOI representatives briefed the Chinese delegation about the ‘liberal investment regime’ which allows both domestic and international investors have the same rights, benefits, and treatment. Only a few industries are not supported like arms and ammunition, explosives, radioactive substances, currency, etc.
Furthermore, they encouraged representatives of the Gauss Auto Group to invest in the auto industry of Pakistan and promised to give maximum facilitation in every regard.
What Happens Next?
BOI representatives plan to have a meeting with CEO Engineering Development Board. This is answer a lot of genuine queries regarding the Government’s EV Policy and how to establish the EV plant in the near future which will be developed on AKD Holding’s land.
This is excellent news for all the EV enthusiasts in Pakistan who await more electric automobile options as there are only a select few EVs available in the local auto arena.
EV Plant of MG Pakistan
This is not the first time that the news of an EV manufacturing plant is circulating in the local media. Just last month, Javed Afridi who is MG Pakistan’s key person announced that MG’s EV plant is under construction. He shared a video of an unknown location with the message “Pakistan’s first giga NEV/EV plant under construction.”