{
  "id": 15840786,
  "title": "BYD to rely on imports initially, Hubco says",
  "url": "https://urgent.news/2026/10/21/byd-to-rely-on-imports-initially-hubco-says",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-21T02:45:59.000Z",
  "source": {
    "name": "Dawn Business",
    "slug": "dawn-business",
    "url": "https://www.dawn.com/news/2038641/byd-to-rely-on-imports-initially-hubco-says"
  },
  "original_language": "en",
  "account": "Hub Power Company (Hubco) disclosed on October 20, 2026, that BYD vehicle production will initially depend solely on imported raw materials and components, with localisation expanding gradually over time. The long-term goal is to localise up to 80 percent of the vehicle, which is expected to enhance cost competitiveness and diminish reliance on imports, as stated by Hubco management during a corporate briefing. The Topline Securities reported that the BYD plant is anticipated to commence operations within the next four to five weeks, by mid-December. Hubco aims for an initial sales run rate of approximately 1,000-1,500 BYD vehicles per month as production escalates. BYD intends to introduce additional models through a phased approach, concentrating on segments that can generate significant sales volumes, according to the brokerage house.\n\nLucky Cement, a competitor in the EV segment, informed analysts on Tuesday that competition remains fierce, especially from Chinese completely built-up (CBU) vehicles. The company aims to commence local production of EV models by the first quarter of the calendar year 2027, with volumes and model offerings projected to increase gradually in subsequent quarters.",
  "summary": "KARACHI: Hub Power Company (Hubco) has said that BYD vehicle production will initially rely entirely on imported raw materials and components, with localisation increasing gradually over time. The long-term objective is to localise up to 80 per cent of the vehicle, which should improve cost competitiveness and reduce reliance on imports, Hubco management said during a corporate briefing held on…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}