The Nishat Group electric vehicles project is gearing up for launch as the conglomerate partners with China’s Chery Automobile Co., one of the country’s largest car exporters, to enter Pakistan’s growing EV market.
NextGen Auto Pvt., a subsidiary of Nishat Group, is planning to unveil five new electric-powered vehicles under the Omoda and Jaecoo brands during a launch event this Friday, according to the company’s Chief Financial Officer Muhammad Aqib Zulfiqar. Around $100 million has been allocated for the automotive manufacturing and marketing operations, with local assembly of the vehicles expected to begin in October 2025.
Zulfiqar called the move a strategic decision, highlighting China’s lead in automotive innovation and cost efficiency. After visiting several manufacturers in China, the Nishat team found Chery to be the ideal partner.
“In this category, China is much ahead of all other manufacturing hubs in the world when it comes to advancements and cost,” he explained.
The Nishat Group electric vehicles initiative joins a broader trend, with several Chinese auto brands entering Pakistan’s EV space. Companies like BYD and Shanghai Automotive Industry Corp. have either launched or announced plans to manufacture EVs locally, intensifying competition in the sector.
Nishat Group, which operates in industries ranging from cement and textiles to banking, has already established a strong foothold in the automotive market by selling Hyundai vehicles since 2017. The group now aims to broaden its portfolio with the introduction of Chery’s EV lineup.
Pakistan’s government aims to have electric vehicles account for 30 percent of all car sales, imports, and production by 2030. As part of this goal, it has committed to reducing electricity rates at EV charging stations nationwide.
Zulfiqar urged the government to fast-track the implementation of policies that support electric mobility, including issuing more licenses for EV charging infrastructure.
“The new model that we have seen is new energy vehicles,” he said. “Leaving it open and letting competition run free was not wise.”
The launch of Nishat Group electric vehicles marks a major step forward for Pakistan’s EV landscape, signaling increased collaboration between local business giants and international automakers.