Jaecoo, Omoda EVs Roll Out Ahead of Schedule

Jaecoo and Omoda EVs have entered production earlier than planned as NexGen Auto, a subsidiary of the Nishat Group, officially began rolling out units from its new plant in November, months ahead of the original March 2026 target.

The early launch was confirmed during a corporate briefing of Nishat Power Limited (NPL). Officials shared that NPL will invest up to Rs. 2 billion in NexGen Auto, securing a 33% stake through the purchase of 200 million shares.

The company expects this investment to improve long-term value as Pakistan’s demand for electric vehicles grows. The keyword Jaecoo and Omoda EVs also reflects rising consumer interest.

Investment Analyst Zayan Babar from Arif Habib Limited stated that nearly 2,000 vehicles are already booked, with about 20% advance payments received. Several units are currently at the paint shop stage, and deliveries of CKD vehicles are expected to begin by mid-December.

The NexGen Auto facility, located beside Hyundai’s assembly line, will assemble the Jaecoo plug-in hybrid and the Omoda E5 electric model. The plant can produce 32,000 units annually on a double shift.

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In a separate briefing, Nishat Chunian Power Limited (NCPL) also confirmed a long-term investment of up to Rs2 billion in NexGen Auto. NCPL management said the plant’s integration with Hyundai’s operations will support a smoother launch, adding that shareholder returns are expected to strengthen despite potential impacts from government concessions. The first dividend from the new EV venture is projected for FY28.