KARACHI: Hub Power Company (Hubco) has announced that BYD has achieved sales of more than 2,000 vehicles in less than six months. Additionally, over 500 advance orders have already been placed for its Shark model. At present, the company is importing completely built units (CBUs) under the standard duty regime.
To strengthen its presence in Pakistan, Hubco is establishing a completely knocked down (CKD) assembly plant in Gharo, designed for an annual production capacity of 25,000 units.
According to a report by Asad Ali of Topline Securities, financial close for the project is expected in the last quarter of 2025. The venture carries an estimated cost of $150 million and is being financed through a 60:40 debt-to-equity ratio. Both local and international lenders are involved, with a term sheet already finalized. Hubco anticipates CKD production to commence within 24 months.
The company clarified that the assembly project is structured as a 50:50 joint venture between Hub Power Holding — a wholly owned subsidiary of Hubco — and Mega Conglomerate. Notably, BYD has not taken any equity stake in the venture. This is significant as globally, BYD has typically opted for 100% ownership in markets like Thailand and Brazil, making Pakistan its first global market entry through a partnership without equity participation.
On electric vehicle (EV) infrastructure, Hubco stated that while EV chargers were initially sourced from Europe, more affordable options are now being supplied by Chinese manufacturers. The company highlighted that EV charging stations can achieve financial viability with usage from just three vehicles per day. Hubco further revealed plans to deploy charging stations every 150–200 kilometres along the Karachi-Peshawar motorway within the next six months.
Separately, Sazgar Engineering Works Ltd has announced plans to roll out CKD models of the TANK-500 and CANNON plug-in hybrid vehicles (PHEVs) by March 31, 2026. Earlier, the company introduced its first CKD PHEV, the Haval H6 1.5L, on August 16, 2025, as disclosed in its FY25 annual report.
