ISLAMABAD, Sep 16 (DNA): A Chinese electric car manufacturer has
announced establishing an electric vehicle (EV) plant in Pakistan and
showrooms in major cities of the country, it emerged on Saturday.
The 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.
Mr GU said entering the 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.
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.
Mr Baig asked the Chinese firm’s delegation to expedite their investment
plans which will be mutually beneficial.
Xinjian Jingyi Cheng Group operates in five main industries, namely;
Electromechanical and hydraulic, Light power, Vehicle, International
commerce and Production and services,
Last year in May, the ‘Gauss Auto Group,’ another Chinese corporation,
had announced to construct electric vehicle (EV) plant in Pakistan’s
special economic zone near Port Qasim in Karachi.
The company would enter into a Joint Venture (JV) with AKD Group
Holdings (Pvt.) limited and set up the plant near Port Qasim, Karachi on
around 1000 acres of land.
The development comes after a delegation led by Mr. Chen Feng, CEO Gauss
Auto Group and CEO AKD Group Holding, Mr. Nasir Rizwan visited the Board
of Investment (BOI) and held a detailed meeting with the Federal
Minister Board of Investment Chaudhry Salik Hussain and Secretary BOI
Ms. Fareena Mazhar.
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