The Gauss Auto Group has announced its intention to build an electric vehicle (EV) plant in Pakistan’s Special Economic Zone. According to reports, the plan will be a joint venture (JV) between Gauss Auto Group and AKD Group Holdings (Pvt.) limited, with a 1000-acre site near Port Qasim in Karachi.
Gauss Auto is a dedicated EV manufacturing company based in Shanghai, China, and registered in Silicon Valley, California. It made the decision to enter Pakistan during a meeting with Nasir Rizwan at the Board of Investment (BoI) on Thursday between Chen Feng, CEO of Gauss Auto Group, and CEO of AKD Group Holding.
The Federal Minister of Investment Chaudhry Salik Hussain and Secretary of the Board of Investment Fareena Mazhar were among the guests. The company also indicated that it plans to export electric vehicles built in Pakistan to other markets.
Gauss Auto Group conducted a full tour of its manufacturing facility and educated BoI about its current car selection. Secretary BoI informed the delegation on Pakistan’s recently implemented electric vehicle policy, which helps both existing and new manufacturers.
The team was also educated about Pakistan’s liberal investment environment, which treats foreign and domestic investors equally and allows FDI into all economic sectors except for a few prohibited industries such as armaments and ammunition, explosives, radioactive substances, currency, and others.
BoI encouraged Gauss Car Group to engage in Pakistan’s auto market and provided the company with the best possible support and assistance. BOI has scheduled a meeting with CEO Engineering Development Board on May 20th to address their technical questions about the government’s EV policy and to help them actualize their manufacturing factory on AKD Holding’s site in Karachi.
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