Pakistani cement maker to enter mass-market EV segment through Chinese imports
- Subsidiary will initially focus on importing CBU electric vehicles from China
Thatta Cement, a Pakistani cement maker, plans to enter the country’s electric vehicle (EV) market through a wholly owned subsidiary, initially importing completely built-up (CBU) electric vehicles from China.
Thatta Cement, involved in the manufacturing and marketing of cement and also owns Thatta Power (Private) Limited, disclosed the development in a filing to the Pakistan Stock Exchange (PSX) on Thursday.
“The EV market in Pakistan is witnessing rapid growth, driven by increasing consumer interest, the entry of new international and domestic brands, and the introduction of various government incentives and tax concessions aimed at promoting electric mobility.
“Against this backdrop, the Board of Directors has approved an investment in a wholly owned subsidiary to venture into the electric vehicle business. The subsidiary will initially focus on importing completely built-up (CBU) electric vehicles from China,” read the notice.
Thatta Cement said that the proposed business strategy is not directed at the conventional niche EV segment or premium electric vehicle market.
“Instead, the company intends to tap into the largely underserved mass-market segment by introducing affordable, compact and small electric vehicles designed to cater to the mobility requirements and purchasing power of a broader consumer base.
“This approach is aimed at capitalising on the emerging market opportunity, establishing an early foothold in Pakistan’s evolving EV industry and gradually developing a sustainable business platform, with the possibility of expanding into local assembly and other related activities in the future,” read the notice.
The company did not disclose the investment amount.
Pakistan’s electric vehicle (EV) industry is experiencing growing momentum, driven by government policies, environmental concerns, and rising fuel costs, though it faces significant challenges. The EV sector in Pakistan is described as a “newborn baby” that needs time and consistent government support to evolve and build the necessary infrastructure and ecosystem.