The Punjab Industries and Commerce Department and Skywell New Energy Vehicles Group of China signed a Memorandum of Understanding (MoU) on 18th June, 2025 for an investment in the electric vehicle (EV) sector.

According to the agreement, the Chinese company will establish an electric vehicle assembly plant on a 75-acre site within the Special Economic Zone of Punjab.

The MoU was signed by the Provincial Minister for Industries, Chaudhry Shafay Hussain, and the Chief Executive Officer of the Chinese company, Biwan Han, at a ceremony held at the Punjab Small Industries Corporation (PSIC) office.

Skywell New Energy Vehicles Group has indicated interest in investing in the manufacturing of electric buses, cars, two-wheelers, three-wheelers, and other electric vehicles.

At the event, the minister stated that the government would provide the required support to facilitate the establishment of the EV plant in Punjab. He further added that the provincial administration is taking steps to develop the electric vehicle sector.

The minister also said that the development of environmentally sustainable transport is one of the provincial government's areas of focus. He mentioned that facilities are being provided to investors in electric products, batteries, charging infrastructure, and electric vehicles.

He reiterated the provincial government's position on supporting industrial development and attracting investment, noting that new industrial units could lead to job creation.

The minister further stated that security measures will be in place for both domestic and foreign investors, including those from China. The Chief Executive Officer of Skywell New Energy Vehicles Group said that the company plans to manufacture electric vehicles for both export and domestic markets.