China to Set Up Electric Vehicle Manufacturing Plant in Pakistan
The largest automaker in China is prepared to begin producing electric cars in Pakistan’s first private special economic zone (SEZ), which is located in Raiwind.
The Board of Investment officially recognised MG JW Automobile Pakistan Pvt Ltd as a “zone enterprise” in the JW-SEZ, Raiwind, during a meeting of the SEZ Committee held in Islamabad.
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With an expected 663 million rupees in foreign direct investment and 637 million rupees in domestic investment, the company will produce electric vehicles.
MG JW Automobile Pakistan Pvt Ltd’s “Zone Entry Application” was received by BoI through its recently developed “SEZ MIS Module,” which serves as a one-window for SEZs in Pakistan, according to officials.
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Both domestic and international investors interested in Pakistan’s SEZs can now easily register online and submit their applications, which will be instantly shared with the relevant authorities, according to the BoI.
According to reports, the government expects that by 2030, 50% of all two-, three-, and four-wheelers and 30% of all new automobiles, lorries, buses, vans, and jeeps would be electric vehicles. 90 percent of all vehicles on the road are expected to be electric by 2040.
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