Caretaker Commerce Minister Dr. Gohar Ejaz announced on Thursday thatChinese electric vehicle (EV) giant, BYD Company Limited, is activelyexploring investment opportunities in Pakistan. Dr. Ejaz shared hisoptimism about this development, following a productive meeting with BYD, aglobal leader in the EV industry. He also emphasized that the Pakistanigovernment’s policies and the Special Economic Zones (SEZs) under theChina-Pakistan Economic Corridor (CPEC) would provide unwavering supportfor BYD’s potential ventures in the country.
BYD Co. Ltd., a publicly traded Chinese conglomerate, is headquartered inShenzhen, Guangdong, China, and operates with two major subsidiaries: BYDAuto and BYD Electronic.
The company’s significance in the electric vehicle market is noteworthy, asit competes directly with Elon Musk’s Tesla for the top position in globalEV production. Interestingly, American business magnate Warren Buffet holdsa 3 percent stake in this influential Chinese firm.
Apart from its remarkable presence in the EV sector, BYD’s businessdiversification is a key aspect that sets it apart from its competitors. Inaddition to manufacturing electric vehicles, the company is also involvedin producing handset components and photovoltaic products.
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– Some of its top customers include well-known tech giants like Dell,Apple, Xiaomi, and Huawei. This strategic diversification contributes tothe company’s robust presence and competitiveness in the global market.