HUBC expands into the electric vehicle business with BYD Auto in Pakistan

In a notification sent to PSX on 21/06/2024, The Hub Power Company Limited (HUBC) and Mega Motor Company joined BYD Auto for an electric vehicle venture in Pakistan.

Hub Power Holdings Limited, a wholly owned subsidiary of The Hub Power Company Limited, through its associated company, Mega Motor Company (Private) Limited, is entering into a new line of business in electric vehicles, with BYD Auto Industry Company Limited, in Pakistan. The consummation of this new venture will include execution of definitive agreements and purchase of assets and is subject to corporate and regulatory approvals and consents.

HUBC shares were last trading at Rs. 158.29 today