ISLAMABAD – *World’s largest electric vehicles manufacturer worth $250billion make big entry in Pakistan.*
BYD, the Chinese multinational company and world’s largest electricvehicles manufacturer with turnover of $250 billion, is all set to enterPakistan.
The development was announced by Pakistan Electric Vehicles & PartsManufacturers and Traders Association (PEVPMTA) General Secretary ShaukatQureshi while talking to local media.
“Toyota, the world auto giant, for the first time signed an agreement onNovember 7, 2019, to develop Electric Vehicles with BYD, the world’slargest electric vehicles manufacturer, with 44 plants around the globeemploying 250,000 personals, with turnover of $250 billion,” he said.
“Scenario will definitely change in Pakistan as well, with the Japanesecompanies roll out their models by 2024,” he added.
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Qureshi said that the country’s auto sector was totally dominated by theJapanese brands, which had yet to come up with a comprehensive responsetowards EV and its technology. It is pertinent to inform that Pakistan autosector is dominated by three Japanese automakers i.e. Suzuki, Toyota andHonda.
Meanwhile, Adviser to Prime Minister on climate change Malik Amin Aslam hassaid that electric vehicles will initially reduce import bill by US$2billion per annum. Terming EV 2019 as best policy in the region, he saidthat the policy, which had been promulgated recently, would provide cheapmode of transportation, reduction in carbon emission and decrease importbill.
The advisor added that the government would issue SROs related to EVpolicy, 2019, shortly in order to commence the process of introducing EV inthe country.
