Chinese electric-car maker BYD’s expected expansion into Pakistan has raised hopes in the country that the Warren Buffett-backed company can help jump-start exports in the automotive manufacturing sector.
Pakistan’s biggest private electricity producer Hub Power (Hubco) said last month that its subsidiary Mega Motor was entering a partnership with the Tesla rival to set up the country’s first electric vehicle assembly plant by 2026.
BYD’s Pakistan plan would mark the company’s first venture into south Asia after being blocked in India by Prime Minister Narendra Modi’s government, which has restricted Chinese investment.
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