Karachi: Mega Motor Company (Private) Limited has secured a strategic partnership to manufacture, market, and distribute BYD branded passenger vehicles in Pakistan. This agreement also includes the rights for technical license agreements of the products, enhancing the local automotive landscape with advanced technology offerings.

Under the terms set by the Master Supply and Manufacture Agreement with BYD Auto Industry Company Limited, Mega Motor Company, an associated entity of The Hub Power Company Limited, will begin operations that promise to transform Pakistan’s automotive sector. According to information available from the Pakistan Stock Exchange (PSX), this partnership is expected to introduce a new level of technological advancement in the automotive industry by leveraging BYD's innovative and sustainable technology solutions.

The agreement was announced following the regulations of the Securities Act, 2015 and Rule 5.6.1 of the PSX Rule Book, ensuring transparency and regulatory compliance in the proceedings. As part of the regulatory requirements, the information was disclosed to the PSX on June 21, 2024, and comes as a continuation of the efforts to keep the stakeholders informed and engaged in the strategic developments of the company.

This initiative is poised to offer a significant boost to the automotive sector in Pakistan, providing a variety of new options for consumers and creating a competitive edge in the market. The collaboration with BYD is set to enrich the customer experience with high-quality, technologically advanced vehicles tailored to the needs of Pakistani consumers.