PM Khan inaugurates Pakistan’s first electric car assembly facility as China invests $100m

Chinese automaker to invest $100m in Pakistan’s first electric vehicles assembly facility in Islamabad

On the first day of 2021, Prime Minister Imran Khan inaugurated a new vehicle assembly facility in Pakistan.

Launched in Islamabad, the US$100 million automobile facility will be Pakistan’s first facility to locally assemble electric vehicles.

Chinese investment

A Chinese motor company, MG Motors, will invest US$100 million and begin local production of the vehicles in Pakistan by mid this year. MG Motor Pakistan assembly unit is a joint auto venture between JW-SEZ and Chinese company SAIC. MG, the British car brand, is owned by SAIC Motor, the largest vehicle manufacturer in China.

MG Motor company will start local production in Pakistan by mid-2021 and will launch three SUVs – the MG-HS, MG-ZS 1.5 and MG ZS EV (fully electric vehicle) in the first phase.

Javed Afridi, one of the key stakeholders of the project, shared the development on Twitter and said that “JW-SEZ Group along with SAIC motors are committed to make Pakistan a leader in global EV revolution.”

Pakistan’s government recently announced new incentives to encourage the use of electric vehicles (EVs) and to shift 30 percent cars to electric vehicles by 2030 as part of country’s vision to switch to renewable and clean energy.

At the ground-breaking ceremony, PM Imran Khan said that Pakistan could learn a great deal from China, as its economic model best suited the country. “China developed its industry, established economic trade zones and attracted foreign investment to generate wealth, which it ultimately spent on poverty alleviation”, bringing its population of 700 million out of poverty in around 35 years, which is an extraordinary example of economic development in the world.

Industrialization and economic growth

“China is Pakistan’s biggest ally in industrialization and is supporting the country in achieving its goals of economic prosperity through industrial development,” the premier said expressing his hopes that Chinese industry would be relocated to Pakistan to spur the industrialization activity in Pakistan.

PM Imran Khan said that the government is in consultation with the Chinese government on ways to enhance exports and is also working with China in agricultural modernization. He promised business-friendly policies and incentives for industries and small and medium enterprises in the New Year.

Chinese Ambassador, Nong Rong, also attended the ceremony and vowed “more investments in Pakistan.” He said that CPEC would lead to extensive economic activity and create employment opportunities in diverse fields.

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