Business Desk 
Dec 08, 2024
Chinese new energy vehicle (EV) companies are planning to build factories in Pakistan, signalling a major economic opportunity for the country. Understanding China Forum (UCF) president and Pakistan Prime Minister’s former special advisor Zafaruddin Mahmood, shared this news during the 2024 Understanding China Conference in Guangzhou.
The conference, themed "Carry Through the Reform to the End: Chinese Modernisation and New Opportunities for World Development," brought together over 600 delegates from politics, business, and academia. Zafaruddin highlighted China’s achievements in modernisation and its role as a global economic driver.
“China’s high-level opening-up is giving a boost to the world economy,” he said, emphasising that Chinese technological advances, like solar power and EV production, are reshaping global industries.
Zafaruddin further pointed out that all solar products from China find extensive usage in Pakistan in providing renewable energy to the general public at affordable rates. He added that BYD happens to be one of China's leading companies in terms of renewable energy and electric cars.
These industries align with China's commitment to achieving carbon neutrality by 2060 while also creating economic opportunities around the world. The establishment of EV factories in Pakistan is a reflection of the increasing partnerships in renewable energy and technological innovation.
These factories would enhance Pakistan's EV market as well as promote local job creation and decrease reliance on imported technologies. With Chinese firms investing in green development, this step would be in sync with Pakistan's environmental as well as economic objectives.
