BYD cars are quickly gaining traction in Pakistan with Hub Power Company (Hubco) announcing that the brand has already sold more than 2,000 units in less than six months. The company also confirmed that over 500 advance orders have been placed for BYD popular Shark model.
Currently, BYD vehicles are being imported as completely built units (CBUs) under the normal duty structure. To meet growing demand, Hubco is setting up a completely knocked down (CKD) assembly plant in Gharo with an annual production capacity of 25,000 vehicles.
According to Topline Securities analyst Asad Ali, financial close for the project is expected in the last quarter of 2025. The project will cost around $150 million and will be financed on a 60:40 debt-to-equity ratio with both local and international lenders on board.
Hubco clarified that the project is a 50:50 joint venture between its subsidiary, Hub Power Holding and Mega Conglomerate. Interestingly, BYD itself has not taken any equity in the venture. This makes Pakistan the first country where BYD is working without direct ownership unlike its fully owned operations in Thailand and Brazil.
READ MORE: BYD Sold Over 500,000 Cars in October 2024, Breaking Records
On the charging side, the company revealed that it initially sourced EV chargers from Europe but has now shifted to Chinese suppliers due to lower costs. Hubco believes charging stations become profitable when at least three vehicles use them daily. The company plans to set up chargers every 150–200 kilometres along the Karachi-Peshawar Motorway within the next six months.
