Chinese enterprises invited to invest in Pakistan’s NEV industry

beijingwalker · Jul 8, 2023

Chinese enterprises invited to invest in Pakistan’s NEV industry

July 08, 2023

BEIJING - Consul General of Pakistan in Shanghai, Hussain Haider has invited Chinese businesses and enterprises to invest in Pakistan’s New Energy Vehicle (NEV) industry, which was one of the most promising areas of bilateral cooperation, and to take benefits from a large and growing market and the incentives provided by the government.

Welcoming the participants at China-Pakistan New Energy Vehicle (Electric Vehicle) Industry Cooperation Seminar in Shanghai, he highlighted the importance of bilateral cooperation in the NEV sector.
As part of the celebrations of the Decade of the CPEC and the efforts to strengthen bilateral cooperation under BRI and CPEC, the Mission, in coordination with ICT Belt & Road Union Shanghai, organized the seminar.

During the seminar, the experts and representatives of companies in the NEV industry and government officials shared their insights on China’s systematic advantages in EV and potential and opportunities for bilateral cooperation with Pakistan in view of its large market and key needs.

Nawaz Sharif to lead election campaign soon: Atta Tarar

Over 100 representatives from China and Pakistan in the new energy, technology, and transportation industries, industrial chain parts, manufacturers’ associations, and leading design and manufacturing enterprises, participated in the forum through on-site and video connections.

China Economic Net (CEN) adds: In her opening remarks, Zhao Baige, Vice Chair of the 12th NPC Foreign Affairs Committee of the People’s Republic of China, noted that new energy vehicle technology has become an essential track for the fourth industrial revolution.

She stated that the growth of the new energy vehicle industry requires supportive policies and production.

Zhao shared that China has been the world’s largest producer and seller of new energy vehicles for eight consecutive years, with sales increasing over a thousand-fold from less than 6,000 in 2011 to 6.887 million in 2022.

After over a decade of development, China has established policy systems to support the rapid development of new energy vehicles in areas like development planning, consumption subsidies, hedging policies, research investment, government procurement, and standard formulation.

IPP to release manifesto 'reflecting agricultural revolution' in coming week

Usman Ali, Manager (Policy), Engineering Development Board (EDB), Ministry of Industries & Production, Pakistan, presented on the incentives for electric vehicles in Pakistan under the Auto Industry Development & Export Policy (AIDEP).

He stated that the policy includes incentives for electric vehicles such as 2-3 wheelers, cars, SUVs, buses, trucks, etc.

To promote EV manufacturing in Pakistan, the import of charging infrastructure attracts a 0% customs duty, and there is a 1% custom duty on EV-specific parts. The government also subsidizes registration fees for electric vehicles in all provinces.

Usman noted that Chinese brands such as Chery, MG, BAIC, DFSK, Chang’an, GWM, FAW, Foton, and others are already operating in Pakistan and are popular among the masses.

China is leading the development of key technologies for electric vehicles, and Pakistan welcomes the investment of Chinese electric vehicle enterprises, as well as accelerating the roll-out of China-Pakistan new energy vehicle industry cooperation.