The ‘Gauss Auto Group,’ a Chinese corporation, has announced to construct electric vehicle (EV) plant in Pakistan’s special economic zone near Port Qasim in Karachi.
The company would enter into a Joint Venture (JV) with AKD Group Holdings (Pvt.) limited and set up the plant near Port Qasim, Karachi on around 1000 acres of land.
The development comes after a delegation led by Mr. Chen Feng, CEO Gauss Auto Group and CEO AKD Group Holding, Mr. Nasir Rizwan visited the Board of Investment (BOI) and held a detailed meeting with the Federal Minister Board of Investment Chaudhry Salik Hussain and Secretary BOI Ms. Fareena Mazhar.
The delegation also highlighted their intention to export their locally produced EVs from Pakistan to other countries. The organization delivered a comprehensive presentation of their production plant and apprised BOI leadership on the variants of the vehicles they are already producing.
Secretary BOI briefed the delegation about Pakistan’s recently launched Electric Vehicle policy which offers benefits to both; existing and new manufacturers.
BOI leadership encouraged Gauss Auto Group to invest in auto sector of Pakistan and extended maximum support and facilitation to the company.
It is pertinent to mention here that Gauss Auto is an enterprise focusing on the innovation and development of automobiles and the integration of resources. The company is registered in Silicon Valley, California, and operates in Shanghai, China.
It is pertinent to mention here that the federal cabinet on Dec.22, 2021 had approved Pakistan’s first Electric Vehicle Policy.