During the company’s annual general meeting, the Board of Directors announced plans to set up a facility that will produce 50,000 electric vehicles (EVs) every year. Out of this production, 30-40% is expected to be exported to markets in Australia and Africa.
The company plans to introduce Completely Knocked Down (CKD) cars in 8-9 different versions across various segments between December 2025 and March 2026. Hub Power, along with its associated company, Mega Motor Company, has partnered with BYD Auto Industry Company Limited to enter the electric vehicle market.
The Board is optimistic about the company’s future, expecting strong cash flow in the coming years. They believe that the electric vehicle segment will make a significant contribution to the company’s profits, which could lead to increased dividends for shareholders.
This new initiative reflects the company’s commitment to growing in the electric vehicle space while contributing to sustainable mobility. The partnership with BYD, a well-known EV manufacturer, strengthens their plans and aims to deliver competitive products to both local and international markets. The Board’s positive outlook on future cash flow highlights the potential of the auto segment to play a key role in the company’s growth.
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