Nishat Group, led by prominent business figure Mian Mohammad Mansha, is entering Pakistan’s electric vehicle market through a new joint initiative with Chinese automotive giant Chery Automobile Co. This move positions the conglomerate to play a significant role in advancing the country’s EV manufacturing landscape. The venture will be operated under a new entity, NextGen Auto Pvt. Ltd., which is gearing up to introduce five models under Chery’s Omoda and Jaecoo brands. These vehicles are set to be unveiled at a launch event this Friday, with local assembly scheduled to begin in October 2025.
According to Muhammad Aqib Zulfiqar, Chief Financial Officer of Nishat Group, an estimated $100 million is being invested in the project. This investment will cover the cost of manufacturing, setting up the assembly infrastructure, and marketing activities. The decision to collaborate with Chery followed a series of visits to leading Chinese automakers, with the team ultimately choosing Chery for its advanced technology and cost-effective production. Zulfiqar referred to the selection process as straightforward, highlighting China’s lead in EV innovation and efficiency.
Pakistan’s automotive landscape has recently seen an influx of Chinese electric vehicle brands. Over the past year, more than six such companies have entered the market, including SAIC Motor and BYD, the latter of which is planning to begin local production in the coming year. This momentum aligns with national efforts to promote EV adoption. The government’s EV policy targets 30% of all car sales and production to be electric by 2030, and several incentives have been rolled out, including lower electricity rates at charging stations.
Zulfiqar noted the group’s enthusiasm for venturing into the EV space and called for more rapid and structured government action to foster industry growth. He emphasized the importance of a stable policy environment, particularly regarding licensing for EV charging infrastructure, to support broader adoption and ensure sustainable development in the sector.
Nishat Group already holds a strong presence in the local automobile market, having partnered with Hyundai since 2017. Beyond automotive, the group is active in cement, textiles, and financial services, making it one of the country’s most diversified business entities. With the launch of NextGen Auto, the group aims to capitalize on emerging opportunities in sustainable mobility and expand its automotive footprint.
Zulfiqar added that smart policy frameworks will be essential to fostering healthy competition in the EV market. He remarked that the industry is shifting toward new energy vehicles and that unregulated market activity could hinder progress. The partnership between Nishat Group and Chery signals a strategic step forward in transforming Pakistan’s automotive sector, offering the potential to bring affordable, eco-friendly cars to consumers while promoting local manufacturing and job creation.
