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Lahore, November 1, 2025: As part of an unprecedented competition to shape Pakistan’s emerging electric and hybrid vehicle segment, MCB Bank and NexGen Auto have joined forces in an alliance designed not just to sell cars–but to transform how Pakistanis access premium mobility technology.
As opposed to conventional auto loans, this partnership focuses on reducing financial barriers for high-end hybrid and electric SUVs – specifically the newly released JAECOO J7 SHS PHEV – making this one of the first times a mainstream Pakistani bank has provided 1-Year KiBOR +2% financing on plug-in hybrids.
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Industry analysts claim the rate, combined with Adamjee Insurance’s 1% coverage policy, targets a growing middle segment who wish to upgrade but cannot due to high duties, weak resale markets or rising costs.
NexGen Auto, distributor for OMODA and JAECOO vehicles, has struggled like other distributors with delayed shipments and uneven supplies. Offering priority delivery under this partnership offers them a distinct edge at a time when waitlists for top-tier hybrids continue to stretch for months.
READ: EV charging network to build across Pakistan soon
Adnan Aurangzeb Khan, Head of Consumer Banking at MCB, described their collaboration as an attempt to “democratize access to modern mobility”, emphasizing how financing needs to evolve with automotive technology. They’re not simply funding vehicles – we are funding their transition towards cleaner and smarter transport – he noted.
NexGen Auto’s deal is strategic as well. According to Muhammad Aqib Zulfiqar, its Director, their aim is to simplify the buying process for customers – “customers desire premium technology-forward experience from day one; financing, delivery and aftersales should not become hurdles,” according to him.
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This partnership sets both companies up to take advantage of an ever-evolving market where demand for plug-in hybrids and electric vehicles (EVs) has steadily been shifting towards plug-in hybrids; affordability remains the primary barrier. Car prices have hit historic highs; analysts project that the high demand JAECOO and OMODA segments may grow even faster as financing softens further.
Industry observers see the deal as an indicator that banks and automakers are gearing up for an anticipated wave of EV adoption between 2026-2030 when Pakistan will likely surpass 25-30% electrification of urban centers.
