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Nishat Power Limited (NPL) has announced a Rs2.5 billion investment in electric vehicle firm NexGen Auto (Private) Limited to support its upcoming product launch and local assembly operations.
NPL shared the development in a notice to the Pakistan Stock Exchange (PSX) on Monday, revealing plans to hold an Extraordinary General Meeting (EGM) on August 13, 2025, to seek shareholder approval. The investment will include Rs2 billion in equity—through the acquisition or subscription of 200 million shares of Rs10 each in NexGen Auto—and an additional Rs500 million as a one-year working capital loan.
The working capital loan will carry a quarterly return, calculated at the higher of 3-month KIBOR plus 100 basis points or NPL’s average borrowing cost. The proposed investment aligns with Nishat Power’s strategy to diversify its business and invest in sustainability-focused sectors like electric vehicles.
NexGen Auto, incorporated in August 2024, is gearing up for a nationwide launch in partnership with Chinese automaker Chery Automobile Co. Ltd. The company plans to import, assemble, and distribute new energy vehicles under the Omoda and Jaecoo brands across Pakistan. NexGen’s sales and marketing teams are actively promoting the brand ahead of a major launch event in early August 2025.
NPL’s Rs2.5 billion investment in NexGen Auto supports a broader project worth Rs14.7 billion, which includes the establishment of a completely knocked down (CKD) assembly line. The assembly facility is expected to be completed by March 31, 2026, with commercial operations beginning within the same calendar year.
By backing NexGen Auto, Nishat Power aims to gain long-term capital appreciation and dividend income while contributing to the growth of Pakistan’s electric vehicle market.
