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Business

December 19, 2010

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Pakistan to invite China to manufacture electric cars

Pakistan to invite China to manufacture electric cars

ISLAMABAD: Pakistan is to invite Chinese investors to set up electric car manufacturing plants in its export processing zones (EPZs) with a view to target the Middle East market, said officials.
The ME market has close proximity to Pakistan and can serve as a trans-shipment hub for re-export to the Far East, Africa, Europe, America and the Central Asia. Best locations for such plants are Karachi and Gawadar, they said.
For the purpose of enhancing exports, import of all inputs for manufacturing in the EPZs is exempted from duties and taxes.
Incentives besides those available to manufacturers of petrol and diesel cars are also under consideration, said officials.
The Chinese government is determined to become a world leader in green technology and plans to invest billions of dollars over the next few years to develop electric and hybrid vehicles. China plans to have five million electric cars on its roads by 2020.

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