Islamabad: BYD, a leader in electric vehicle and renewable energy solutions, officially entered the Pakistani market today, signaling a significant shift towards eco-friendly transportation options. The launch event featured a keynote address by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, who emphasized the move as a pivotal step in Pakistan’s journey towards sustainable development and energy efficiency.

According to Ministry of Finance announcement issued on 17 August 2024, Senator Aurangzeb lauded BYD’s commitment to innovative technology and environmental stewardship, noting the alignment of BYD’s market entry with Pakistan’s environmental and economic objectives. “BYD’s presence in Pakistan not only introduces new eco-friendly vehicles but also marks an important step towards embracing a sustainable future that contributes to our national goals of energy efficiency and technological advancement,” stated Aurangzeb.

The minister highlighted the government’s support for initiatives that promote green technology, which are expected to spur economic growth by creating jobs and enhancing the technological capabilities of Pakistan’s automotive sector. He also pointed out the potential for BYD’s operations to boost Pakistan’s exports in the electric vehicle sector, helping to balance high-tech exports and reduce trade deficits.

Aurangzeb underscored the collaborative efforts between the government and industry stakeholders to foster innovations that meet the country’s sustainability goals and ensure long-term economic stability.