A Chinese investment group, ADM, has pledged to invest significantly in Punjab’s electric vehicle (EV) sector. During a meeting with Punjab Minister for Industry and Commerce, Chaudhry Shafiq Hussain, the group expressed its interest in setting up charging stations and potentially manufacturing EVs in the province.
The Chinese investors announced plans to build 3,000 charging stations across Pakistan, with an initial investment of $90 million. In the second phase, they intend to establish an assembly and manufacturing plant for electric vehicles, with an estimated investment of $250 million.
Punjab Minister Shafiq Hussain welcomed the investment, emphasizing the province’s favorable environment for both local and foreign investors. He highlighted the special incentives offered to investors in Punjab’s Special Economic Zones and emphasized the urgent need to promote electric vehicles to combat smog and air pollution.
The minister assured the Chinese investors that the Punjab government is committed to supporting the growth of the electric vehicle sector through comprehensive policies and initiatives.
The CEO of ADM Group expressed optimism about the investment opportunities in Pakistan, particularly in the EV sector. He stated that the group aims to complete the construction of 4,000 charging stations within two years and subsequently establish an assembly and manufacturing plant for electric vehicles.
This significant investment from Chinese investors is expected to boost the electric vehicle infrastructure in Punjab and contribute to the country’s efforts to reduce carbon emissions and promote sustainable transportation.
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