Gauss Auto has announced to establish an Electric Vehicle (EV) Plant in Pakistan’s Special Economic Zone.
According to official sources, the plan is to enter into a Joint Venture (JV) with AKD Group Holdings (Pvt.) limited and set up the plant near Port Qasim, Karachi on around 1000 acres of land.
Gauss Auto is an enterprise focusing on the innovation and development of automobiles and the integration of resources. It is registered in Silicon Valley, California, and operates in Shanghai, China.
The development was made during a meeting between a delegation led by Chen Feng, CEO Gauss Auto Group and CEO AKD Group Holding with Nasir Rizwan at Board of Investment on Thursday.
The delegation held a meeting with Federal Minister Board of Investment Chaudhry Salik Hussain and Secretary BoI Fareena Mazhar to finalize plans.
According to officials, the delegation also highlighted their intention to export their locally produced EVs from Pakistan to other countries.
Earlier the organization delivered a comprehensive presentation of their production plant and apprised BoI leadership on the variants of the vehicles they are already producing.
Secretary BOI briefed the delegation about Pakistan’s recently launched Electric Vehicle policy which offers benefits to both; existing and new manufacturers.
The delegation was also informed about Pakistan’s liberal investment regime, which treats foreign and local investors equally and where all economic sectors are open to Foreign Direct Investment (FDI) except a few specified restricted industries like arms and ammunition, explosives, radio-active substances, currency etc.
BOI leadership encouraged Gauss Auto Group to invest in auto sector of Pakistan and extended maximum support and facilitation to the company. In order to cater to their technical queries about Government’s EV Policy and to subsequently materialize their manufacturing plant on AKD Holding’s land in Karachi, BOI has scheduled a meeting with CEO Engineering Development Board on 20th May.
As per documents Gauss Auto is an enterprise focusing on the innovation and development of automobiles and the integration of resources. It is registered in Silicon Valley, California, and operates in Shanghai, China. Their partner is the British CCA company that provided engines for the First World War 120 years ago. RML, German EDAG, Italian IDG and other well-known vehicle styling design, engineering development and manufacturing companies, as well as engineers, designers and marketing experts in the field of new energy vehicles from Audi, Ford, Tesla and the US Department of Energy. It is committed to creating a “global new energy vehicle industry ecosystem” oriented by global users and becoming a global leader in new energy smart vehicles.
The AKD Group is a major force in Pakistan’s real estate market with extensive interests in numerous residential and commercial real estate projects all across the country.