ISLAMABAD: A leading Chinese automotive company signed an agreement with a Pakistani firm this week to introduce advanced electric vehicle (EV) technology in Pakistan and scale up domestic production, state media reported on Tuesday.
The memorandum of understanding (MoU) was signed on February 22 in Beijing between Shanghai Launch Automotive Technology Co., Ltd. (LAUNCH) and Yousuf Dewan Companies (YDC), a pioneer in EV assembly in Pakistan.
The deal is part of broader cooperation between Pakistan and China in technology and industrial development, following recent efforts to enhance investment and collaboration in the automotive sector.
YDC, which has been active in Pakistan’s automobile industry, will work with LAUNCH, a Chinese firm specializing in EV technology, to develop vehicles for Pakistan using LAUNCH’s expertise in design and innovation.
The agreement also includes setting up a completely knocked-down (CKD) assembly operation for battery electric vehicles (BEVs), producing both right-hand drive and left-hand drive models for domestic sales and exports.
“This agreement marks a significant step toward bringing advanced electric vehicle (EV) technology to Pakistan and promoting sustainable mobility solutions in the region,” the Associated Press of Pakistan (APP) news agency reported.
“The cooperation includes the creation of a technology partnership focused on EV innovation, battery life cycle management and recycling solutions, as well as exploring a joint venture for manufacturing and scaling BEV production in Pakistan,” it added.
The partnership is expected to drive EV adoption in Pakistan and contribute to the country’s sustainable energy and mobility goals, aligning with broader government efforts to promote clean transportation.
Pakistani, Chinese firms sign deal to boost electric vehicle production
https://arab.news/nqy95
Pakistani, Chinese firms sign deal to boost electric vehicle production
- The Pakistani firm will develop vehicles with the help of Chinese expertise for domestic sales and exports
- Agreement will help bring advanced electric vehicle technology to Pakistan, provide sustainable mobility
Pakistan touts investment potential for US businesses in tech, energy and minerals
- The country’s envoy says both sides was committed to anchoring relations in economic cooperation
- He describes Pakistan’s tech-savvy youth as a competitive asset for businesses needing skilled labor
ISLAMABAD: Pakistan’s ambassador to the United States said on Sunday the country offered profitable opportunities for American businesses in information technology, energy and minerals, according to an official statement.
The comments come months after the US and Pakistan reached a trade deal in July, with officials on both sides signaling interest in expanding cooperation into energy, mining, digital infrastructure and other sectors.
Pakistani Finance Minister Muhammad Aurangzeb at the time said the aim was to move “beyond the immediate trade imperative,” adding that the two countries had “come a long way” in their broader strategic partnership.
“Pakistan presents profitable opportunities for US entrepreneurs, particularly in the fast-growing and lucrative IT, energy and minerals sectors,” Ambassador Rizwan Saeed Sheikh said, according to the statement.
Sheikh made the remarks during a meeting at the embassy in Washington with a delegation from the Yale School of Management, which plans to visit Pakistan.
He said the leadership in both countries was committed to anchoring relations in economic cooperation and providing an investor-friendly environment for American firms looking to enter a market of more than 250 million people.
The ambassador noted Pakistan was strategically located at the crossroads of South Asia, Central Asia and the Middle East, adding that it served as a vital trade corridor offering US businesses connectivity to energy-rich Central Asian states and Gulf markets.
Sheikh highlighted opportunities in tourism, agriculture, manufacturing and information technology, pointing to Pakistan’s large, tech-savvy youth population as a competitive asset for businesses needing skilled labor.
“The success of over 80 US companies already operating profitably in Pakistan bears testimony to the country’s vast economic potential,” he said.
The statement added the delegation thanked the ambassador for the briefing and said it looked forward to the embassy’s support during the visit.
