Nishat Group’s NexGen Auto to Manufacture Electric Vehicles with Chery Automobile
NexGen Auto Pvt., a subsidiary of Pakistan’s Nishat Group, owned by Mian Mohammad Mansha, is establishing a facility to produce electric vehicles in collaboration with Chinese automaker Chery Automobile Co., according to a recent report.
NexGen Auto Pvt is preparing to launch five vehicles simultaneously under Chery’s Omoda and Jaecoo brands at an upcoming launch event. Muhammad Aqib Zulfiqar, the group’s Chief Financial Officer, shared this information.
The conglomerate has allocated approximately $100 million for automotive manufacturing and marketing activities, with local car assembly slated to commence in October, according to Zulfiqar.
Earlier, Nishat Power Limited (NPL), also part of Nishat Group, revealed intentions to invest up to Rs2.5 billion in NexGen Auto (Private) Limited. The listed entity has scheduled an Extraordinary General Meeting (EGM) for this purpose, set to occur on August 13, 2025.
Describing the decision as straightforward, Zulfiqar stated that Nishat Group pursued the collaboration with Chery following visits to China and meetings with various car manufacturers.
“China is significantly ahead of other global manufacturing centers in terms of progress and cost-effectiveness in this sector,” he noted.
The CFO further mentioned that the Nishat conglomerate aims to expand its presence in the automotive industry and urges authorities in Islamabad to expedite the implementation of policies promoting EV adoption.
“The emerging model we observe involves new energy vehicles,” he stated. “Restricting competition was not a prudent approach.”
NexGen Auto, established in August 2024, has made considerable advancements toward its market introduction. The company has finalized its partnership with Cherry Automobile Co. Ltd of China for the importation, local production, and nationwide distribution of its Omoda and Jaecoo sub-brands, which specialize in new energy vehicles.
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