Lahore July 26 2021: Sapphire Group Pakistan has collaborated with BYD China, the world’s leading electric vehicle manufacturer, for market development and manufacturing of electric vehicles in Pakistan.
BYD Auto Co, Ltd. is the automotive subsidiary of the Chinese multinational BYD Co Ltd headquartered in Xi'an, Shaanxi Province. It was founded in January 2003, following BYD Company's acquisition of Qinchuan Automobile Company in 2002. The company produces cars, buses, trucks, electric bicycles, forklifts and rechargeable batteries. The current model range of automobiles includes electric vehicles, plug-in hybrid vehicles and petrol engine vehicles.
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In the recent budget announced by the PTI, government has reduced General Sales Tax on Electric Vehicles (EV) from 17 percent to one percent and also waived Federal Excise Duty on EV.