Hub Power Company (Hubco) has announced that BYD has sold more than 2,000 vehicles in Pakistan within six months of its entry, with over 500 confirmed orders for the Shark model. The company is currently importing completely built units (CBUs) under normal duty terms.
To strengthen its presence, Hubco is setting up a completely knocked down (CKD) assembly plant in Gharo with an annual capacity of 25,000 units. According to an analyst briefing by Asad Ali of Topline Securities, financial close of the $150 million project is expected by the last quarter of 2025.
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The project will be financed through a 60:40 debt-to-equity ratio with commitments from both local and foreign lenders. Production is expected to begin within two years of closing.
The project is a 50:50 joint venture between Hub Power Holding, a wholly owned subsidiary of Hubco, and Mega Conglomerate. Unlike its operations in Thailand and Brazil, BYD has not taken equity in this venture, making it its first global partnership without ownership.
Meanwhile, Hubco aims to install EV chargers every 150–200 km along the Karachi-Peshawar motorway within six months, while Sazgar Engineering Works plans CKD rollout of its TANK-500 and CANNON plug-in hybrids by March 2026.
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