HUBCO denies BYD plant delay, targets end-2026 launch: report

Hub Power Company (HUBCO) intends to launch its BYD vehicle assembly plant by the end of 2026, according to its management. The company plans to initially sell between 1,000 to 1,500 vehicles per month as production increases. AHL, which reported on the matter, states that HUBCO will introduce additional BYD models in phases, targeting profitable price segments and vehicle categories.

The company expects to gradually increase local content in vehicle production, with the long-term goal of localizing up to 80% of the vehicle to enhance cost competitiveness and reduce dependence on imports. HUBCO's management refuted reports of a delay, stating the facility will be operational in 4-5 weeks. Analyst Zayan Babar Khan from AHL confirmed this timeline to Business Recorder.

The plant's launch is part of HUBCO's expanding investment in the automotive sector through BYD, a Chinese electric vehicle manufacturer. BYD's Vice President and Asia Pacific Auto Sales Division General Manager, Liu Xueliang, recently stated during an exclusive interview with BR Research that the Pakistan-based manufacturing plant is nearing its launch in the second half of 2026.

The facility, which is BYD's sixth outside China and has a production capacity of 25,000 units annually, can potentially scale to 50,000 units per year. Liu added that the plant will create over 1,100 jobs, contribute to sustainable industrialization, and help avoid approximately 165,000 tonnes of CO2 emissions by 2034.