ISLAMABAD: Chinese electric vehicle (EV) maker BYD Co Ltd is in talks with Pakistan’s government and potential local partners about investing in the country’s nascent EV sector.

The Board of Investment (BoI), Pakistan’s main body for attracting foreign investment, said the world’s largest EV manufacturer, had expressed interest in exploring opportunities in Pakistan during a visit by a delegation this week.

"The delegation is currently on an exploratory visit to Pakistan, facilitated by BOI, including crucial meetings with potential local partners," the BoI said Thursday on it social media platform X. The significant update comes in the aftermath of a meeting between a delegation from BYD Company China, led by Cai Xiao Xu, head of Dealer Division (South Asia), and Lei Jian, Country Head (Pakistan), with Sohail Rajput, Secretary at BoI.

The BoI said BYD, recognized as a Fortune 500 entity and a global leader in EV manufacturing, emphasized its presence in four major industries: automobile, rail transit, new energy, and electronics.

During the meeting, the Secretary of BoI welcomed BYD's interest, emphasizing the significance of EVs in Pakistan. He assured the BYD delegation of the Government of Pakistan's commitment to facilitating foreign investors.

BYD, holding the title of the world's largest EV manufacturer, is a key player in the production of various vehicles, including battery electric and hybrid cars, buses, trucks, as well as battery-powered bicycles, forklifts, solar panels, and rechargeable batteries.