Hub Power Company (Hubco) has disclosed that BYD has sold more than 2,000 cars in Pakistan within six months, while over 500 advance orders have already been placed for its Shark model.
The company is currently importing completely built units (CBUs) under the normal duty regime but is moving toward local assembly. Hubco is setting up a completely knocked down (CKD) assembly plant in Gharo, with an annual production capacity of 25,000 units.
According to a report by Asad Ali of Topline Securities, citing the company’s analyst briefing, the financial close is expected in the last quarter of 2025. The project, with an estimated cost of $150 million, will be financed through a 60:40 debt-to-equity ratio. Both foreign and local lenders are on board, and a term sheet has already been signed. Hubco expects CKD production to begin within 24 months, likely by 2027.
The company clarified that the project is a 50:50 joint venture between Hub Power Holding — a wholly owned Hubco subsidiary — and Mega Conglomerate. Notably, BYD itself has not taken an equity stake in the venture. Globally, BYD has preferred full ownership in markets such as Thailand and Brazil, making Pakistan its first global market without equity participation.
On EV charging infrastructure, Hubco said chargers initially sourced from Europe are now more affordable from Chinese suppliers. It added that EV charging stations become financially viable if used by at least three cars per day. The company plans to install chargers every 150–200 km along the Karachi–Peshawar Motorway within the next six months.
In a separate development, Sazgar Engineering Works Ltd announced plans to roll out CKD models of the TANK-500 and CANNON plug-in hybrid vehicles (PHEVs) by March 31, 2026. The company earlier launched its first CKD PHEV — the Haval H6 1.5L — on August 16, 2025, according to its FY25 annual report.
