Electric bus JV signed with Chinese group
China is also seeking to expand domestic semiconductor manufacturing capacity and reduce the industry's reliance on advanced Nvidia chips that are subject to US export controls. PHOTO: REUTERS
GU GO Motors and Shengtang Group signed a memorandum of understanding for a proposed joint venture to manufacture electric buses in Pakistan, at an event marking the 77th anniversary of the founding of the People's Republic of China in Islamabad.
Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan, who attended as chief guest, said Pakistan and China enjoyed a longstanding friendship founded on mutual trust and respect, and that the next phase of cooperation must translate the relationship into industrial investment, technology transfer, manufacturing and export growth. The proposed venture aims to promote technology transfer, develop local manufacturing capabilities and explore production of export-ready vehicles under the Made in Pakistan banner.
The adviser said electric mobility offered Pakistan opportunities to expand its manufacturing base and develop local supply chains, adding that cooperation with Chinese companies could move the country towards higher-value production.
The event was attended by about 150 dignitaries and a 14-member Chinese business delegation.