Hub Power Company (HUBCO) aims to bring its BYD vehicle assembly plant online by the end of 2026, targeting an initial sales run rate of 1,000 to 1,500 vehicles per month as production ramps up, management said in its annual general meeting.
Arif Habib Limited (AHL), which attended the meeting, said in its report that the company plans to introduce additional BYD models in phases.
“Management intends to introduce additional BYD models through a phased approach, targeting price segments and vehicle categories with the highest sales potential. It does not intend to launch models indiscriminately and believes competitive pricing and product quality will support market share gains,” AHL said on Tuesday.
According to the report, vehicle production will initially rely entirely on imported raw materials and components, with local content expected to increase gradually.
“The long-term objective is to localise up to 80% of the vehicle, which should improve cost competitiveness and reduce reliance on imports,” said the brokerage house
HUBCO’s management denied that the plant had been delayed and reiterated its target of bringing the facility online by the end of calendar year 2026.
It is expected to be operational “in 4-5 weeks”, Zayan Babar Khan, analyst at AHL, told Business Recorder.
The update comes as HUBCO expands its investment in the automotive sector through BYD, the Chinese electric vehicle manufacturer.
Earlier this month, Liu Xueliang, Vice President of BYD Co., Ltd., and General Manager of BYD’s Asia Pacific Auto Sales Division, in an exclusive talk to BR Research, said that the BYD manufacturing plant being established in Pakistan is “nearing its launch in the second half of 2026”.
“This is BYD’s sixth facility outside of China and has a production capacity of 25,000 units per annum, scalable to 50,000 units per annum,” said Liu, while adding that more details about the project will be shared in due course.
“This plant is expected to generate more than 1,100 jobs, advance sustainable industrialisation, and help avoid an estimated 165,000 tonnes of CO2 emissions by 2034,” he added.