Pakistani Tycoon Joins With China's Chery to Localize EV Output
NextGen Auto Pvt., a unit of Pakistan's Nishat Group, plans to debut five cars simultaneously under Chery's Omoda and Jaecoo brands at a launch event on Friday, Muhammad Aqib Zulfiqar, the group's chief financial officer, said in an interview. The conglomerate has earmarked about $100 million for the automotive manufacturing and marketing operations, with local car assembling set to start in October, he said.
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