A Chinese company has announced an investment of $350 million in Pakistan for electric vehicles.
With the support of the Special Investment Facility Council (SIFC), there is interest in Chinese investment in the EV sector and in this regard, Chinese company ADM Group has announced an investment of $350 million in Pakistan.
Under the project, more than 3,000 electric vehicle (EV) charging stations will be installed in Pakistan. 1,000 stations will be installed in Sindh, 1,500 in Punjab and 750 in Khyber Pakhtunkhwa and Balochistan.
ADM Group will provide an investment of $90 million for EV charging infrastructure. $250 million has been allocated for the establishment of an EV manufacturing plant in Pakistan.
Electric vehicles will have the capacity to travel up to 300 kilometers on a single charge. The use of electric vehicles will help reduce carbon emissions and reduce dependence on fuel.
In line with green energy goals, Pakistan is on track to become a regional hub for EV manufacturing and infrastructure. The establishment of EV charging stations in collaboration with SIFC is a welcome development in line with the government’s eco-friendly policies.
