A delegation from Chinese electric vehicle giant BYD met Finance Minister Muhammad Aurangzeb and emphasised Pakistan’s growing potential as a market for new energy vehicles, according to a statement issued by the finance ministry on Thursday.

The delegation was led by BYD Group Vice President and General Manager for Asia Pacific Auto Sales Division Liu Xueliang and Mega Motor Company (MMC) Chief Executive Officer Aly Khan.

Last year it was announced that BYD planned to roll out its first car assembled in Pakistan by July or August 2026 to capture growing demand for electric and plug-in hybrid vehicles in the region.

According to a statement issued by the Ministry of Finance, the finance minister welcomed the delegation and appreciated BYD’s expanding footprint in Pakistan. He underscored the importance of strengthening business-to-business cooperation as a key pillar of Pakistan-China economic relations.

“The finance minister said Pakistan attaches high priority to attracting technology-driven investments and expressed confidence that the BYD–MMC joint venture would contribute significantly to industrial development, technology transfer, job creation and export growth,” the ministry said.

During the meeting, Liu briefed the finance minister on BYD’s operations and future plans in Pakistan, highlighting progress on the introduction of new energy vehicle technologies in partnership with Mega Motor Company.

“He appreciated the government of Pakistan’s support for the development of the electric vehicle sector and informed the meeting that construction of the company’s local manufacturing facility was progressing according to schedule,” the statement said.

He also shared BYD’s plans to expand its product portfolio, accelerate localisation, introduce advanced charging technologies, and contribute to the development of Pakistan’s electric vehicle ecosystem through investment, technology transfer and capacity building, it added.

“The delegation emphasised Pakistan’s growing potential as a market for new energy vehicles and outlined its long-term vision of positioning the country as a regional hub for EV manufacturing and exports,” the statement said. It added that the company also planned to develop charging infrastructure in collaboration with local partners and train Pakistani engineers and technicians.

Khan informed the finance minister that Pakistan occupies a strategic position in BYD’s global expansion plans and reiterated the joint venture’s commitment to long-term investment in the country.

He further briefed the meeting on the progress of the “manufacturing project and outlined a phased localisation roadmap aimed at increasing local content through engagement with domestic vendors and suppliers, thereby strengthening Pakistan’s automotive value chain and industrial base”.

Aurangzeb noted that “global trends clearly pointed towards an accelerating transition to electric mobility and reiterated the government’s commitment to facilitating investments that support technological advancement, sustainable industrialisation and energy efficiency”.

He observed that “Pakistan’s improving macroeconomic fundamentals and enhanced external sector position had created a conducive environment for productive investment and industrial expansion”.

Reaffirming the government’s support for the EV sector, Aurangzeb encouraged the delegation to accelerate efforts towards local assembly, manufacturing and charging infrastructure development, noting that the availability of a robust charging network would be critical to expediting the adoption of electric vehicles across the country, it said.

“He also highlighted the significant contribution of Chinese enterprises to Pakistan’s industrial development and expressed confidence that the BYD-MMC partnership would further deepen economic cooperation between Pakistan and China,” it added.

The meeting also featured a discussion on the future role of electric vehicles and plug-in hybrid electric vehicles (PHEVs) in Pakistan. The BYD delegation shared international experience regarding the evolution of EV markets and highlighted the complementary role of PHEVs during the transition phase, particularly in markets where charging infrastructure is still developing, the ministry said.

“Participants also discussed opportunities arising from Pakistan’s increasing adoption of solar energy and the potential synergies between renewable energy and electric mobility,” the statement said.

Both sides reaffirmed their commitment to strengthening collaboration in electric mobility, local manufacturing, technology transfer, skills development and sustainable transportation, with the shared objective of positioning Pakistan as a leading regional destination for new energy vehicle production and innovation, the statement concluded.