Huaihai Holding Company, a Chinese vehicle manufacturing company in collaboration with its Pakistani partner is seeking to expand its existing business by investing $10 million in manufacturing of electric vehicles, starting with two-wheeler and four-wheeler vehicles in Punjab.
According to the Punjab Board of Investment and Trade (PBIT), the secretary of Industries Punjab chaired a meeting with the visiting delegation from Huaihai Holding Company and its local business partner, Fusion Engineering Pvt. Ltd.
The Director of Fusion Engineering Pvt. Ltd. reported that it is currently collaborating with its Chinese partner to assemble three-wheeled car-go loaders and two-wheeled electric scooters in Pakistan. They recently launched 50 electric scooters in the market, receiving a positive response from customers. “The company now seeks to expand its business by investing $10 million in the manufacturing of electric vehicles, starting with two-wheeler and four-wheeler vehicles in Punjab,” reads the statement issued on Monday.
During the meeting, the Punjab team shared information about the Special Economic Zones (SEZs) framework and emphasized the government’s focus on promoting green energy and reducing carbon emissions. Both sides agreed to collaborate, and the Punjab government assured the investor of full support and streamlined facilitation to expand their presence in Punjab.