NexGen Auto Electric Vehicle Plant Begins Early Production
NexGen Auto, a Pakistani subsidiary of the Nishat Group, has started production at its new electric vehicle (EV) plant months ahead of its scheduled March 2026 launch.
According to the media report, the development was confirmed during a corporate briefing session of Nishat Power Limited (NPL) on Tuesday.
Zayan Babar, an investment analyst at Arif Habib Limited (AHL), told Business Recorder that the plant commenced operations in November instead of the initially planned March next year.
Zayan Babar added that the early start highlights the commitment of the company to entering growing automotive sector in Pakistan.
NPL has committed to a long-term investment of up to Rs2 billion in NexGen Auto (Private) Limited, acquiring a 33% stake through the subscription of 200 million shares.
“Management expects this move to enhance long-term value and profitability by tapping into the expanding EV market,” Babar said.
The facility, located next to the assembly line of Hyundai, will assemble both the Jaecoo plug-in hybrid and the Omoda E5 fully electric EV.
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Around 2,000 vehicles have already been booked, with 20% of buyers having made advance payments.
Several models are currently in the paint shop, and deliveries of completely knocked down (CKD) units are expected to begin by mid-December.
The plant has an annual production capacity of 32,000 units, or 2,667 vehicles per month on a double-shift schedule. Single-shift operations would produce half of this capacity.
Meanwhile, Nishat Chunian Power Limited (NCPL) also confirmed a long-term investment of up to Rs2 billion in NexGen Auto.
The company noted that the assembly plant would integrate operations with Hyundai’s existing assembly line.
NCPL management added that while government concessions may affect initial profitability, strong returns are expected, with the first dividend projected in FY28.
