The company entered Pakistan in a joint venture and will set up its plant in a special economic zone in Raiwand
MG JW Automobile Pakistan Pvt. Ltd will start the manufacturing of electric vehicles in Pakistan’s first private special economic zone (SEZ) located in Raiwind. The manufacturing will begin with an estimated foreign direct investment of Rs663 million and a local investment of Rs637 million.
MG Pakistan is a joint venture between JW SEZ and SMIL — a subsidiary of SAIC Motor Corporation Limited, a state-owned multinational automotive design and manufacturing company headquartered in Shanghai automobile manufacturer in China. It is the largest automotive manufacturer in China.
According to BOI officials, MG JW Automobile Pakistan Pvt Ltd ‘Zone Entry Application’ came through the recently launched ‘SEZ MIS Module’, which acts as a one-window for SEZs in Pakistan. It is developed to facilitate real investors, from all corners of the world, in getting admission into SEZs while ensuring complete transparency.
Last year, the federal government introduced an electric vehicle policy with the aim to encourage producers to set up plants in the country. At the same time, the idea is to promote the use of electric vehicles and help the environment in the longer run. The government wants the majority of the vehicles in the country to be run on electricity by 2030.