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Xiaomi and Gran Turismo announce partnership

Lahore, Pakistan, June 16, 2025 — Xiaomi and Polyphony Digital today announced a landmark partnership at Round One of the Gran Turismo World Series 2025. Under this collaboration, Xiaomi SU7 Ultra — Xiaomi EV’s top-of-the-line high-performance luxury electric vehicle — will debut in the globally acclaimed racing simulator Gran Turismo 7, for PlayStation 4 and PlayStation 5, marking the first Xiaomi model featured in the franchise.

Gran Turismo is widely recognized as one of the world’s most authentic driving simulators, with engineering parameters mirroring real-world performance. Its influence extends beyond gaming — driving innovation in vehicle dynamics and safety while uniting automotive enthusiasts globally. The inclusion of Xiaomi SU7 Ultra reflects the rise of smart high-performance EVs in the automotive industry.

In May 2025, Gran Turismo creator Kazunori Yamauchi met with Xiaomi Group Founder, Chairman, and CEO Lei Jun in Beijing. During the visit, Yamauchi conducted an immersive test drive of Xiaomi SU7 Ultra and toured Xiaomi’s EV factory in Yizhuang.

Kazunori Yamauchi stated:

“We are delighted to begin this partnership with Xiaomi. The Chinese automotive industry has progressed rapidly, and Xiaomi — a newly established player in the automotive sector — has already created an exceptional vehicle, Xiaomi SU7, as a pivotal part of its comprehensive smart ecosystem, which spans smartphones and wearables to home appliances.

Beyond this, Xiaomi SU7 Ultra Prototype has shattered conventional performance benchmarks at the Nürburgring. Witnessing these achievements, I am deeply moved by Xiaomi’s courage, curiosity, passion, and relentless dedication to realizing such milestones. This spirit resonates profoundly with Gran Turismo and Polyphony Digital’s philosophy.”

Lei Jun remarked:

“We deeply resonate with Mr. Yamauchi’s visionary philosophy of building a better society through technology. This aligns perfectly with Xiaomi’s mission to let everyone in the world enjoy a better life through accessible and innovative technology. Our shared values paved the way for this collaboration.”

“Gran Turismo’s worldwide reputation for uncompromising quality and experience makes us particularly honored to have Xiaomi SU7 Ultra included. We look forward to introducing more Gran Turismo players and automotive enthusiasts to the capabilities of high-performance smart EVs like ours.”

At the partnership announcement event, Yamauchi highlighted Xiaomi SU7 Ultra as astandout in the smart EV segment, noting that its competitive performance at the Nürburgring Nordschleife demonstrates Xiaomi EV’s formidable engineering capabilities.

Xiaomi — a global technology leader — completed its “Human x Car x Home” ecosystem in 2024 with the launch of its first smart EV, Xiaomi SU7. The top-of-the-line Xiaomi SU7 Ultra integrates proprietary innovations, including Xiaomi’s HyperEngine V8s (27,200 rpm; 578 PS; 635 N·m) — a self-developed tri-motor configuration system. With 1,548 PS, a top speed exceeding 350 km/h, and a maximum 0–100 km/h acceleration of 1.98 seconds, Xiaomi SU7 Ultra holds multiple track records for four-door vehicles.

Engineered with up to 21 carbon fiber components (5.5 m² coverage) for optimal weight distribution and luxury craftsmanship, its design merges dynamic performance with elegance. Xiaomi EV’s R&D team rigorously tests technologies like torque vectoring and adaptive damping at circuits including the Nürburgring Nordschleife, ensuring real-world safety and handling excellence translate to the driving experience.

To deliver world-class products that offer both outstanding performance and safety, Xiaomi EV’s R&D team conducts extended on-site development at legendary circuits including the Nürburgring. Through relentless track validation, the team iteratively refines vehicle dynamics. Technologies proven on these professional circuits are systematically adapted for production, transferring true race-derived engineering to road vehicles.

Performance testing at world-renowned racing circuits serves as the ultimate testbed for automotive brands to refine their technology and quality. Xiaomi EV firmly maintains that exceptional lap times represent more than just raw performance – they embody technological excellence, uncompromising quality, and superior safety standards.

At the event, Zhoucan Ren, Chief Test Driver, Head of Vehicle Dynamics Development at Xiaomi EV, stated: “Our team will maintain a continuous presence at the Nürburgring to relentlessly refine our products and push the boundaries of what’s possible in high-performance luxury vehicles.”

Gran Turismo 7 will integrate Xiaomi SU7 Ultra through a co-development process with Xiaomi EV, authentically replicating its luxury aesthetics and driving dynamics. This high-performance EV will debut in Gran Turismo 7, becoming available to players worldwide. Looking ahead, Xiaomi and Gran Turismo will further collaborate to develop the Xiaomi VISION GRAN TURISMO concept vehicle.

Click the video below to learn more.

Xiaomi x Yamauchi Kazunori Short Video

About Xiaomi Corporation

Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an IoT platform at its core.

Embracing our vision of “Make friends with users and be the coolest company in the users’ hearts”, Xiaomi continuously pursues innovations, high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.

Xiaomi is one of the world’s leading smartphone companies. In March 2025, the MAU reached approximately 718.8 million (including smartphones and tablets) globally. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, reached approximately 943.7 million smart devices connected to its platform (excluding smartphones, laptops and tablets) as of March 31, 2025. In October 2023, Xiaomi upgraded its strategy to “Human × Car × Home” smart ecosystem, seamlessly merges personal devices, smart home products, and cars. Xiaomi always centers on humanity and is committed to providing comprehensive, better connected experiences. Xiaomi products are present in more than 100 countries and regions around the world. In August 2024, Xiaomi was included in the Fortune Global 500 list for the sixth year in a row.

Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.

About Polyphony Digital and Gran Turismo

Gran Turismo™ is a video game developed by Polyphony Digital Inc., a subsidiary of Sony Interactive Entertainment Inc. Having launched in Japan first in 1997, the multi-award-winning franchise is regarded as the best and most authentic driving simulator due to true-to-life graphics, authentic physics technology and careful attention to detail. Polyphony and its famed creator Kazunori Yamauchi have revolutionized the racing game genre.
https://www.gran-turismo.com/
https://www.polyphony.co.jp/

Web Desk by — June 16, 2025 in Business
Finance Bill 2025-26: Government Targets Digital Economy and ATM Withdrawals in New Tax Reforms

The Government of Pakistan, through its Finance Bill 2025-26, is set to introduce wide-ranging fiscal reforms focused on expanding the tax net and regulating both cash-based and digital transactions.

Among the key proposals is the revised ATM cash withdrawal limit for non-filers. According to the Federal Board of Revenue (FBR), non-filers will now be able to withdraw up to Rs. 75,000 per day without tax, an increase from the previous Rs. 50,000. However, any amount beyond this limit will incur a 0.8% withholding tax, up from 0.6%.

Digital Economy and E-Commerce: Under the Tax Radar

In a bold move to regulate online marketplaces, the government is also introducing taxes on digital retail activities. The proposed taxation structure includes:

  • 2% income tax on online apparel businesses
  • 0.5% income tax on electronics sales via digital platforms
  • 1% tax on all other e-commerce activities

These businesses will be required to submit billing records as part of their tax returns. This step aims to enforce compliance and minimize underreporting.

International Tech Platforms Face Higher Taxation

The bill also suggests a 5% increase in advance tax on foreign digital service providers, raising it from 10% to 15%. Platforms such as YouTube, Facebook, and Google will be impacted. Companies establishing local offices may benefit from a reduced tax rate of 5%, encouraging global tech firms to invest in Pakistan.

Additionally, banks and courier services will be authorized to act as tax collectors, and online merchants will no longer be allowed to shift tax costs to consumers.

These reforms reflect the government’s focus on bringing the digital economy into the formal sector, thereby increasing transparency in Pakistan’s financial ecosystem.

Afshan Ibrahim by — June 15, 2025 in Business
Buraqi Launches Pakistan’s Longest-Range Electric Motorcycle: Affordable and Locally Built

Introducing a New Standard for Electric Bikes

Buraqi Vehicles, a Pakistani electric vehicle startup, has officially launched its latest electric motorcycle—a 500 km range marvel that redefines local EV expectations. Built and assembled within Pakistan, the bike underscores a major shift towards sustainable, cost-effective transportation.

Entrepreneurs seeking new business avenues are also encouraged to explore Buraqi’s dealership offers across the country.

Technical Details: Power Meets Efficiency

  • Motor: 2kW high-torque Li-Ion motor
  • Battery: 10.43 kWh NCM battery (larger than many residential solar setups)

This combination delivers both high energy density and impressive longevity. Plus, design innovations like internalized electronics in the tank area promote greater protection and compactness, though the bike is splash-resistant, not waterproof.

Ride Modes and Smart Performance

With a capped speed of 85 km/h, unlockable to 100 km/h, the bike caters to varied urban and rural needs. Riders enjoy multiple ride modes, a reverse gear, and front/rear disc brakes—an impressive suite for any EV enthusiast.

Charging the bike consumes just 11.23 units of electricity, translating to a modest Rs. 450–500 per full charge.

Price Points and Business Potential

Priced at Rs. 640,000, the flagship variant offers unbeatable value, especially considering the battery’s standalone market cost is even higher. Models start from Rs. 230,000, allowing options for different budgets.

Buraqi’s dealership model includes support for marketing, training, and technical services—opening doors for ambitious entrepreneurs to enter Pakistan’s growing EV market. For frequent riders, the payback period is impressively short, often under a year.

Afshan Ibrahim by — May 3, 2025 in Business
Air Karachi Seeks License to Launch Flights in Pakistan’s Growing Aviation Market

Air Karachi Joins the List of New Airlines Awaiting Approval

Pakistan’s aviation industry is set to welcome another private airline, Air Karachi, which has applied for a Regular Public Transport (RPT) license from the Pakistan Civil Aviation Authority (PCAA).

As per PCAA sources, the airline’s application is under review, and final approval will come from the federal government. Once granted, Air Karachi will begin operations across major cities.

Investment and Business Leaders Behind Air Karachi

The business community of Karachi has played a significant role in the airline’s formation. Hanif Gohar, a well-known businessman, announced that Air Karachi is being launched with an initial investment of Rs. 5 billion, with multiple shareholders contributing Rs. 50 million each.

Prominent business figures involved in the venture include:

  • Aqeel Karim Dhedhi
  • Arif Habib
  • SM Tanveer
  • Bashir Jan Muhammad
  • Khalid Tawab
  • Zubair Tufail
  • Hamza Tabani

Fleet and Leadership Structure

  • CEO: The airline has appointed Retired Air Vice Marshal Imran to lead its operations.
  • Aircraft Acquisition: Air Karachi plans to lease three aircraft in its initial phase.
  • Regulatory Compliance: The airline has completed its registration with the Securities and Exchange Commission of Pakistan (SECP).

Competition in Pakistan’s Aviation Sector

Air Karachi is not the only airline looking to enter Pakistan’s growing domestic aviation market. In September last year, Jet Green, Q Airways, and Go Green Air applied for operational licenses. Additionally, Air Indus, Q Aviation, and Liberty Air have expressed their intent to either resume operations or begin new services.

Officials at PCAA view this trend as positive for Pakistan’s aviation industry, believing that increased competition will enhance services and benefit passengers across the country.

Afshan Ibrahim by — February 18, 2025 in Business
Pakistan’s Economic Revival: Ishaq Dar Highlights Country’s Progress

Pakistan Climbs to 24th Largest Economy Despite Challenges

Deputy Prime Minister and Foreign Minister Ishaq Dar addressed the Pakistan Business Council’s economic diplomacy event, shedding light on Pakistan’s economic recovery. Despite facing severe setbacks, he reaffirmed that Pakistan is back on track toward sustainable growth.

2013: A Turning Point for Pakistan’s Economy

Dar highlighted the critical economic turnaround in 2013, when the nation was struggling with:

  • Power shortages
  • Terrorism threats
  • Economic instability

Under the ruling party’s “Three Es” policy—Economy, Extremism, and Electricity, Pakistan swiftly regained stability. As a result, by 2016, Pakistan ranked as the world’s 24th largest economy, enjoyed record-high foreign reserves, and successfully controlled inflation.

Economic Downturn & Path to Recovery

However, Dar pointed out that post-2018 policies led to a decline:

  • Pakistan dropped to 47th in global economic rankings
  • Inflation surged into double digits
  • External debt climbed to $130 billion by 2023

Despite these challenges, Pakistan’s natural wealth, including mineral and hydrocarbon reserves, holds the key to future prosperity.

Privatization & Economic Reforms

To revive financial stability, the government is implementing privatization strategies, including:
✅ 24 state-owned enterprises (SOEs) listed for privatization
✅ Privatization of major airports
✅ Potential corporate takeover of Pakistan International Airlines (PIA)

Urging Pakistan’s business sector to play an active role, Dar expressed confidence that strategic reforms will help Pakistan regain its economic standing on the global stage.

Sajal Subhan by — January 29, 2025 in Business
Leading Real Estate group HR Properties join hands with Etihad Town

In a major move to reshape the real estate landscape, HR Properties, the trusted partner of Etihad Town, is now expanding its operations to Sialkot. Renowned for delivering secure, innovative, and profitable investment solutions in Lahore, HR Properties is bringing its expertise to this dynamic city, opening new doors for investors and residents alike.

As a key sales partner of Etihad Town — a brand synonymous with quality and excellence — HR Properties is dedicated to offering tailored, value-driven real estate solutions that align with the aspirations of Sialkot’s vibrant community.

CEO Zeeshan Shaukat expressed his enthusiasm, stating: “We are proud to extend our services to Sialkot. At HR Properties, our mission is to provide investment opportunities that are safe,
innovative, and highly rewarding.”

Adding to this, Managing Director Hassan Amjad remarked: “This expansion reflects our commitment to bringing Etihad Town’s excellence to more cities. We are excited to contribute to Sialkot’s growing real estate sector and build lasting value for our clients.”

Web Desk by — January 25, 2025 in Business
Yango continues to create a ripple effect of Entrepreneurship in Pakistan

Pakistan’s entrepreneurial ecosystem is making steadfast progress with every passing day. As this sector continues to grow, the need for innovative and efficient solutions to support small businesses, startups, and self-employed professionals has never been more imminent. With a majority of the country’s demographic being the youth, an increased smartphone penetration, and a flourishing startup culture, Pakistan stands on the precipice of an economic transformation. Recognizing this potential, the international ride-hailing service that is part of global tech company Yango Group is making its presence felt as a key player to empower entrepreneurs through advanced mobility and technology solutions.

Pakistan’s Entrepreneurial Landscape

There’s no denying of the country’s entrepreneurial spirit. Over 60% of the population falls under the age bracket of 30, which results in a vibrant, youthful market with an appetite for constant innovation. While the number of startups has increased significantly in the past decade, they are marred by integral challenges such as scant infrastructure, limited funding, and logistical inefficiencies. These hurdles often prevent small businesses from scaling effectively and maximizing their capabilities.

Yango: A Catalyst for Growth

Yango’s mission extends beyond mobility. The company aims to create opportunities and empower businesses to thrive. By addressing key logistical and transportation challenges faced by small businesses and entrepreneurs, Yango helps them operate more efficiently and focus on scaling their ventures. Its partnership with Shark Tank Pakistan complements this vision by connecting Yango with a community of innovators and startups. Together, they pave the way for sustainable growth, inspiring more individuals and businesses to choose Yango as their trusted partner in Pakistan’s fast-evolving entrepreneurial landscape.

Partner‘s Drivers: Entrepreneurs in Action

A standout feature of Yango’s model is its commitment to transforming its partners into independent entrepreneurs. Partners with Yango have the autonomy to set their own schedules, determine their earnings, and essentially run their own businesses. This empowerment gives individuals the chance to achieve financial independence while contributing to the broader entrepreneurial ecosystem in Pakistan. Yango’s platform ensures that partner’s drivers have access to advanced tools like route optimization and real-time navigation, enabling them to provide excellent service while maximizing their income.

Supporting Small Businesses

In Pakistan, many small businesses struggle with delivery logistics. Whether it’s a home-based e-commerce venture or a company requiring swift cargo transportation, reliable delivery solutions are a critical need. Yango’s delivery services cater to these requirements by offering efficient and flexible options that help businesses optimize their operations. These solutions not only improve customer satisfaction but also give entrepreneurs a competitive edge in a fast-paced market.

A Nod to Shark Tank Pakistan

Initiatives like Shark Tank Pakistan are monumental in presenting the transformative power of entrepreneurship in driving economic growth and inspiring innovation. This groundbreaking platform, which has made waves around the world, brings together visionary entrepreneurs and a panel of esteemed investors namely Faisal Aftab, Rabeel Warraich, Romanna Dada, Junaid Iqbal, Usman Bashir, Aleena Nadeem, and Karim Teli, who provide funding, mentorship, and guidance to startups that seem promising across a varied range of industries. As a proud partner of Shark Tank Pakistan, Yango supports this culture of ambition and creativity by offering practical mobility and logistical solutions that empower entrepreneurs to turn their innovative ideas into enterprises that can stand the test of time.

Learning from Global Success Stories

Shark Tank has played a monumental role in numerous entrepreneurial success stories worldwide, displaying the game-changing power of innovation and investment. One such example is Scrub Daddy, a smiley-faced sponge company, that has gone on to become one of the platform’s most successful products. The company initially secured a $200,000 investment from Lori Greiner and has since grossed over $926 million in sales. Then there’s Bombas, a comfort-focused sock and apparel brand that operates on a humanitarian objective. Bombas too managed to secure a $200,000 investment from Daymond John for a 17.5% stake in the company. Today, the company has generated over $1.3 billion in sales.

These global success stories go on to prove the overall impact of platforms like Shark Tank in nurturing innovative ideas into successful ventures that go on to stand the test of time and find a footing for themselves in the minds of the general consumer. Yango’s collaboration with Shark Tank Pakistan aims to replicate such success by providing entrepreneurs with the necessary tools and support to transform their ventures into sustainable enterprises, thereby contributing to Pakistan’s economic growth.

A Vision for the Future

As Pakistan continues to move towards urbanization, the need for smarter, more efficient mobility solutions will only grow. Yango is not just fulfilling this gap in the transportation sector but is revamping the future of day-to-day commute in Pakistan. By enabling businesses to operate more effectively and supporting individuals in achieving financial independence, Yango is playing a pivotal role in transforming the entrepreneurial landscape.

With a commitment to innovation, sustainability, and the wellbeing of the platform’s users, Yango is guiding Pakistan toward a brighter, more connected future each time someone books a Yango ride and arrives on their desired destination.

Web Desk by — January 10, 2025 in Business
Pakistan Targets 30% Electric Vehicles by 2030 Under New Policy

Pakistan is gearing up for a greener future with its target to convert 30% of vehicles to electric by 2030. Federal Minister for Communications, Abdul Aleem Khan, announced the plan during his participation at COP29 in Baku, Azerbaijan, highlighting the country’s commitment to combating climate change through sustainable mobility solutions.

Comprehensive EV Transition Plan

The government’s Electric Vehicle Policy aims to:

  • Develop an expansive network of EV charging stations.
  • Increase public awareness about the long-term savings and environmental benefits of electric vehicles.
  • Integrate renewable energy into transportation systems to address urban pollution.

Khan assured stakeholders that the transition to EVs is a priority, with infrastructure development already underway to facilitate smooth adoption.

Green Transport Projects

As part of Pakistan’s sustainable transport strategy, the minister announced the launch of Karachi’s first biomethane hybrid bus fleet, which will operate at zero fuel cost. Additionally, the government is leveraging Public-Private Partnerships (PPP) to advance the National Green Transport Project and ensure its sustainability.

International Collaboration at COP29

Representing Pakistan at the Ministerial Roundtable, Khan joined delegates from countries like Italy, Turkiye, and Kyrgyzstan, along with representatives from the European Commission and International Transport Forum. The forum focused on green technology adoption, smog reduction, and digital innovations in transport.

Focus on Air Quality and Urban Challenges

Aleem Khan highlighted the urgent need to tackle smog and air pollution through micro-level interventions. These steps, he noted, are critical to improving public health and addressing environmental challenges in densely populated cities.

Khan also expressed gratitude to Azerbaijan’s Minister of Economy Mikael Jabarov for fostering productive dialogues during the summit, which enriched Pakistan’s plans for sustainable transportation.

Afshan Ibrahim by — November 21, 2024 in Business
Saudi Drivers Earn SAR 1.1 Billion from Online Taxi Apps in Early 2024 Surge

Saudi Arabia’s Online Taxi Services Boost Driver Earnings to SAR 1.1 Billion

Saudi Arabia’s online taxi industry is rapidly growing, generating nearly SAR 1.1 billion for Saudi drivers from January to September 2024. Data from the Transport General Authority (TGA) report reveals that over 51.8 million trips were completed via authorized ride-hailing apps, reflecting a 12% year-on-year increase in demand.

In addition to this steady growth, the third quarter of 2024 saw a remarkable 41% surge in trips compared to the second quarter, underscoring the sustained demand for fast, efficient, and safe transportation options.

Leading Regions: Riyadh, Makkah, and Eastern Province

The TGA report outlines that Riyadh accounts for 39% of all ride-hailing trips, cementing its position as the busiest hub for online taxi services. Makkah follows with 25%, while the Eastern Province claims 16%. These figures reflect strong urban demand as app-based transport services offer greater convenience and safety, meeting the needs of Saudi Arabia’s rapidly expanding cities.

The rise of these services highlights an increased reliance on technology-driven transport solutions that ease travel within major cities and promote greater connectivity across regions. In total, 46 licensed apps are operating in the Kingdom, each contributing to the modern, app-centric transport ecosystem.

A Call to Action for Young Saudis

Acknowledging this industry’s potential, the TGA is urging Saudi youth to capitalize on the sector’s employment prospects. They are encouraged to apply for financial support from the Human Resources Development Fund (HADAF) to jumpstart their careers in this flexible and lucrative field. With adaptable schedules, these positions offer Saudi nationals a chance to engage in the workforce on their terms while earning competitive wages through passenger transport applications. This growth represents a key economic opportunity for Saudi drivers, signaling a bright future for app-based transport in Saudi Arabia.

Afshan Ibrahim by — November 13, 2024 in Business
Pakistan’s Textile Exports Rise 5.37% in July-August 2024

Pakistan’s textile sector saw a 5.37% increase in exports during the first two months of the fiscal year 2024-25, according to data released by the Pakistan Bureau of Statistics (PBS). The textile export value stood at $2,915.453 million in July-August 2024, compared to $2,766.870 million during the same period last year.

Key contributors to this growth include cotton cloth, which saw a 7.23% increase in exports, amounting to $322.654 million. The knitwear segment surged by 7.15%, reaching $820.585 million. Additionally, bed wear exports increased by 7.61% to $504.753 million.

Other notable performers were towels, up by 6.87% to $170.766 million, and ready-made garments, which saw a significant rise of 17.85%, bringing in $658.499 million.

Decline in Cotton Yarn Exports

However, despite the overall increase, some segments faced challenges. Cotton yarn exports dropped sharply by 45.21%, declining from $201.837 million to $110.588 million. Meanwhile, raw cotton exports experienced a complete halt, going from 3.073 million to zero.

On a year-on-year basis, textile exports in August 2024 increased by 12.99%, reaching $1,644.317 million, compared to $1,455.219 million in August 2023. The month-on-month comparison also shows positive growth, with a 29.36% increase from $1,271.136 million in July 2024.

The increase in textile exports underscores Pakistan’s resilience in the global textile market, despite the challenges faced by specific commodities.

Suboohi by — September 17, 2024 in Business