BYD Assembly Plant in Pakistan Misses Opening Deadline

BYD's vehicle assembly plant in Gharo, Sindh, Pakistan, has failed to meet its initial target of commencing operations in the first half of FY26. According to a statement from Topline Securities, Hub Power Company Limited (Hubco) now anticipates bringing the plant online in the second half of 2026. The facility will initially produce 25,000 vehicles annually, with the potential to increase to 50,000 units.

Hubco, which holds a 50% stake in the project, initially announced the assembly plant, along with four flagship and three service dealerships, in three major Pakistani cities in February 2025. Hubco's involvement in the project began in June 2024 when it, through HPHL and MMCPL, partnered with BYD Auto Industry Company to enter Pakistan's electric vehicle market.

While MMCPL has not responded to inquiries regarding the delay, the plant's current status, localization plans, BYD vehicle imports prior to local assembly, and its first-year production objectives, Topline Securities reports that Hubco has allocated $150 million for the total project investment, including $90 million in project financing.

Hubco aims to secure a 30% share of Pakistan's combined electric vehicle (EV) and plug-in hybrid electric vehicle (PHEV) market by 2030.