World's Top Auto manufacturer company to launch new Electric Vehicles in Pakistan
Caretaker Commerce Minister Dr. Gohar Ejaz announced on Thursday that Chinese electric vehicle (EV) giant, BYD Company Limited, is actively exploring investment opportunities in Pakistan. Dr. Ejaz shared his optimism about this development, following a productive meeting with BYD, a global leader in the EV industry. He also emphasized that the Pakistani government's policies and the Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC) would provide unwavering support for BYD's potential ventures in the country.
BYD Co. Ltd., a publicly traded Chinese conglomerate, is headquartered in Shenzhen, Guangdong, China, and operates with two major subsidiaries: BYD Auto and BYD Electronic.
The company's significance in the electric vehicle market is noteworthy, as it competes directly with Elon Musk's Tesla for the top position in global EV production. Interestingly, American business magnate Warren Buffet holds a 3 percent stake in this influential Chinese firm.
Apart from its remarkable presence in the EV sector, BYD's business diversification is a key aspect that sets it apart from its competitors. In addition to manufacturing electric vehicles, the company is also involved in producing handset components and photovoltaic products.
- Some of its top customers include well-known tech giants like Dell, Apple, Xiaomi, and Huawei. This strategic diversification contributes to the company's robust presence and competitiveness in the global market.