HUBCO's Mega Motor partners with BYD to launch EVs in Pakistan

October 17, 2024 (MLN): Mega Motor Company (Private) Limited has entered into a Master Supply and Manufacture Agreement with BYD Auto Industry Company Limited to manufacture, market, distribute, and sell BYD brand passenger vehicles in Pakistan, along with Technical License Agreements for the Licensed Products.

The Hub Power Company Limited (PSX: HUBCO), with which Mega Motor is an associate company, announced this strategic partnership on the PSX today.

BYD's leading technology coupled with HUBCO's local expertise will catapult Pakistan's automotive sector into the future offering customers a variety and choices from the world's leading automotive technology company.

Back on June 21, 2024, Hub Power Holdings Limited through its associated company, Mega Motor, entered into a new line of business in electric vehicles, with BYD Auto Industry Company Limited, in Pakistan.

This agreement signifies another milestone for BYD, as back in April 2024, it announced that it would enter the passenger vehicle market in Pakistan in cooperation with its local partner, Mega Conglomerate Pvt. Ltd. (Mega).

This marks BYD's entry into one of South Asia’s largest markets, as the brand continues to bring innovative and accessible eco-friendly solutions to global consumers.

Copyright Mettis Link News