NexGen Auto, a subsidiary of the Nishat Group, has started production at its new electric vehicle (EV) plant earlier than originally planned. The facility, which was scheduled to begin operations in March 2026, commenced production in November, according to an Investment Analyst at Arif Habib Limited (AHL), speaking to Business Recorder on Tuesday.
The update was shared during a corporate briefing of Nishat Power Limited (NPL), where the company disclosed that it intends to invest up to Rs2 billion in NexGen Auto (Private) Limited over the long term. As part of the plan, NPL will acquire a 33% equity stake by subscribing to 200 million shares.
The NexGen Auto plant, located adjacent to Hyundai’s assembly line, will produce the Jaecoo plug-in hybrid and the Omoda E5 electric vehicle. Around 2,000 units have been booked to date, with 20% advance payments received. Several models are currently in the painting stage, and deliveries for Completely Knocked Down (CKD) units are expected to begin by mid-December.
The facility is designed for an annual output of up to 32,000 vehicles, or 2,667 units per month on a double-shift basis, with single-shift operations producing half that volume.
Separately, Nishat Chunian Power Limited (NCPL) also announced a long-term investment of up to Rs2 billion in NexGen Auto. NCPL management said the plant would operate in coordination with Hyundai’s assembly line and that initial vehicle rollout is expected soon. They added that government incentives may influence the company’s returns, while projecting the first dividend in FY28.
