Nishat Group’s NexGen Auto to Manufacture Electric Vehicles with Chery

NexGen Auto Pvt., a division of Pakistan’s Nishat Group under the leadership of Mian Mohammad Mansha, is establishing a manufacturing plant for electric vehicles in collaboration with Chinese automaker Chery Automobile Co., according to a recent Bloomberg report.

The company is preparing to introduce five vehicles from Chery’s Omoda and Jaecoo brands at an upcoming launch event. Muhammad Aqib Zulfiqar, the group’s Chief Financial Officer, mentioned in a discussion that the business has allocated approximately $100 million for vehicle production and promotional activities, with domestic assembly scheduled to commence in October.

Nishat Power Limited (NPL), also a component of the Nishat Group, recently revealed intentions to invest up to Rs2.5 billion in NexGen Auto (Private) Limited. The listed firm has announced an Extraordinary General Meeting (EGM) on August 13, 2025, to discuss this matter.

Zulfiqar described the partnership with Chery as an obvious choice, noting that Nishat Group pursued the opportunity after visiting China and engaging with various car manufacturers. He stated that China leads other global manufacturing centers in terms of automotive innovation and cost-effectiveness.

The CFO further noted Nishat’s desire to increase its footprint in the automotive sector and urged authorities in Islamabad to accelerate the implementation of policies supporting the adoption of electric vehicles.

He added, “The emerging paradigm is new energy vehicles,” suggesting that unrestricted competition in the sector may not be the most effective approach.

NexGen Auto, which was founded in August 2024, has progressed significantly toward its market launch. The company has formalized its alliance with Cherry Automobile Co. Ltd of China for the import, local production, and nationwide distribution of its Omoda and Jaecoo sub-brands, which are dedicated to new energy vehicles.