Hubco announced in a notification to the PSX , “Hub Power Holdings Limited, a wholly-owned subsidiary of Hub Power Company Limited, through its associated company, Mega Motor Company (Private) Limited, is entering into a new line of business in electric vehicles with BYD Auto Industry Company Limited in Pakistan.”
The venture will include the execution of definitive agreements and the purchase of assets, pending corporate and regulatory approvals. BYD Auto, known for its leadership in the EV market, sold 1.57 million electric vehicles and 1.44 million hybrid vehicles in 2023, marking a 73% year-on-year increase in EV sales.
