KARACHI, November 5, 2026: Thatta Cement Company Limited is preparing to enter Pakistan’s electric vehicle (EV) market through a new subsidiary that will initially import affordable electric cars from China, marking a major diversification beyond its traditional cement manufacturing business.
The company disclosed the decision to the Pakistan Stock Exchange (PSX) on Thursday following approval by its board of directors on November 4.
Under the proposed plan, Thatta Cement will establish a wholly owned subsidiary to import completely built-up (CBU) electric vehicles, targeting the growing market for compact, lower-priced cars.
The company may consider local assembly and other automotive activities at a later stage, although no manufacturing facility or production schedule has been announced.
Unlike automakers focusing on premium electric SUVs and sedans, Thatta Cement intends to target consumers seeking more affordable vehicles for everyday transportation.
However, the company has yet to disclose its Chinese manufacturing partners, proposed vehicle models, retail prices, investment amount or expected launch date.
The proposed entry comes as Pakistan’s electric vehicle market witnesses growing competition in the compact and entry-level segments.
Models such as the Honri Ve, Inverex Xio and JMEV EV3 have already entered the market, while smaller electric vehicles, including the Nora E30, are targeting urban commuters.
Thatta Cement’s initial reliance on imported vehicles could allow it to enter the market without immediately investing in an assembly plant. However, import duties, exchange-rate fluctuations, shipping expenses and taxation could influence the final prices of its vehicles.
The company will also need to establish dealership arrangements, after-sales services, spare-parts availability and battery warranty support to compete with existing automotive brands.
Thatta Cement’s expansion into electric vehicles represents a significant shift in its business strategy. The company primarily operates in cement manufacturing and marketing and also owns Thatta Power (Private) Limited.
According to its financial results for the year ended June 30, 2026, consolidated revenue increased approximately 26 percent to Rs11.93 billion, while after-tax profit declined around three percent to Rs2.28 billion.
The company has not disclosed how the proposed EV investment will be financed or the amount of capital required.
Pakistan has set a target for electric vehicles to account for 30 percent of new vehicle sales by 2030, creating opportunities for manufacturers and importers seeking to expand into the emerging market.
However, limited public charging infrastructure, battery replacement costs and affordability remain challenges for wider EV adoption.
Further details regarding Thatta Cement’s Chinese partners, vehicle specifications, pricing and sales network are expected to determine its competitive position in Pakistan’s growing electric car market.