The Punjab Board of Investment and Trade (PBIT) said on Friday that it has signed an MoU with a Chinese firm for establishing an electric 2- and 3-wheeler Completely Knocked Down (CKD) plant in Pakistan. “Following a meeting last month in China between the PBIT CEO Imran Khawar and Zhang Xiaodong, CEO of Tianjin Qingqi Vehicle Industry Co., the company’s senior management visited Lahore and signed an MoU with PBIT,” the Board said, according to a report carried by Gwadar Pro.

Based on the MoU, the initial investment of $1 million from Tianjin Qingqi is expected to scale up to $10 million for establishing the electric 2- and 3-wheeler CKD plant. Production, under the brand name “Vidi”, is set to begin within the next five months, with plans to reach an annual capacity of 150,000 EV bikes.

PBIT is fully facilitating the project from inception to operations, including obtaining licenses, securing approvals andsupporting future expansion into a Special Economic Zone (SEZ). Initial operations will start from a rental facility in Lahore, the Board said.

Credit: Independent News Pakistan (INP) — Pak-China