Recently, reports of a financial setback for Hub Power Company (PSX: HUBC) regarding its highly anticipated electric vehicle venture surfaced online. During the quarter ending June 2026, Hub Power recorded a loss of PKR 33 million from its investment in the BYD Pakistan project. Consequently, industry experts attributed this recent quarterly loss to a surge in marketing and administrative expenses.
Currently, project earnings fluctuate wildly. BYD continues importing Completely Built Units (CBUs) because the project remains firmly in its development phase. Meanwhile, local vehicle production has not yet commenced.
Despite the recent dip, Hub Power maintains a strong financial commitment to the project. As of Fiscal Year 2026, the company has injected a total of PKR 6.6 billion into the venture. This investment translates to roughly $23 million. Furthermore, the company has capped its total committed equity for the BYD project at $30 million for FY2026.
Quarterly Financial Breakdown of Hub Power BYD Pakistan Project
The project’s financial history shows a volatile trajectory. Structurally, Hub Power Holdings Ltd. (HPHL) retains a 50% ownership stake in Mega Motor Company Private Ltd. (MMCPL). Additionally, the venture paid absolutely zero dividends between March 2025 and June 2026.
The table below outlines the consolidated financial data (in PKR Millions):
| Quarter | Opening Balance | Investment During Period | Fair Value of Net Assets Retained | Share of Profit (+) / Loss (-) | Closing Balance |
| Mar-25 | – | – | 1,538 | +222 | 1,760 |
| Jun-25 | 1,760 | – | 524 | -221 | 2,063 |
| Sep-25 | 2,063 | 3,000 | – | +114 | 5,177 |
| Dec-25 | 5,177 | 3,600 | – | +54 | 8,831 |
| Mar-26 | 8,831 | – | – | +0.5 | 8,832 |
| Jun-26 | 8,832 | – | – | -33 | 8,799 |
