Hubco’s electric mobility business has crossed 10,000 cumulative BYD sales, while local CKD production is expected to strengthen growth and expand Pakistan’s electric vehicle market.
Karachi, November 3, 2026: The Hub Power Company Limited (Hubco) is set to commence local manufacturing and assembly of the BYD Sealion 6 plug-in hybrid electric vehicle (PHEV) in December 2026, marking a significant development in Pakistan’s electric vehicle (EV) industry.
According to management’s latest corporate briefing, Hubco’s electric mobility business continues to gain momentum, with cumulative sales of BYD vehicles exceeding 10,000 units.
The business recorded a profit of approximately Rs1.5 billion during the first quarter of fiscal year 2026-27 (1QFY27), of which Hubco’s share amounted to Rs780 million.
Management expects growth to accelerate following the commencement of completely knocked-down (CKD) production, with the Sealion 6 becoming the first locally assembled model.
The company is also evaluating additional BYD models, particularly in the higher-volume B and C vehicle segments. The Sealion 6, B8 and B5 are among the models expected around the end of calendar year 2026.
Hubco aims to offer globally competitive vehicles at attractive prices, with product quality and value expected to support market penetration.
BYD dealership and charging network expansion
Hubco is expanding its 3S dealership network across major cities, targeting nationwide coverage by the start of local vehicle assembly.
The company is also strengthening Pakistan’s EV charging infrastructure. Currently, its network comprises 25 to 27 charging points along the Karachi-Peshawar route, maintaining uptime of at least 99.5%.
Management plans to expand the network to 50 charging stations and subsequently 100, targeting one station every 150 kilometres along major highways.
Further expansion into national highways and urban centres is also under consideration through potential partnerships with oil marketing companies (OMCs).
Other key developments from Hubco briefing
During 1QFY27, Hubco and Hub Power Holdings Limited (HPHL) received dividends of Rs4.885 billion from TEL and Rs2.916 billion from TNPTL. CPHGC also declared two dividends during the quarter.
Management said the transformer failure at CPHGC’s Unit-1 would not materially affect dispatch levels because transmission constraints currently limit the plant’s maximum dispatch to approximately 600MW. The available 660MW Unit-2 is expected to meet dispatch requirements, while Unit-1 is expected to return to service within a few months.
The company disclosed outstanding receivables of Rs59 billion at CPHGC, Rs8.2 billion at TEL, and Rs5.7 billion each at LEL and TNPTL.
Meanwhile, SECMC started supplying 100% locally sourced coal to LEPCL in October 2026 following completion of its Phase III expansion.
Hubco also expressed optimism about electricity distribution company (DISCO) privatisation, describing power-sector reforms as an opportunity to improve efficiency, attract investment and reduce electricity costs.
The company is additionally evaluating renewable energy opportunities in Sindh for the upcoming 400MW wheeling auction. Its proposed 300,000-tonne aluminium smelter also remains under consideration, subject to government policy and project economics.
Separately, PRIME expanded its exploration portfolio through acquisitions of two onshore blocks and working interests in four offshore blocks. Ark Metals’ initial resource report also indicated promising mineral potential in Chagai, Balochistan, where lithium scoping studies have been completed.
Hubco plans further exploration to assess the region’s mining potential.