Farkhund Yousafzai
Islamabad, 15 August 2024 (TDI): ADM Group Chief Executive Officer Yasir Bhambhani on Thursday expressed his interest to invest $250 million in Pakistan for manufacturing of electric vehicles to provide ecological-friendly automobiles to local consumers.
In a meeting with Federal Minister for Industries and Production Rana Tanveer Hussain, he said that in the first phase of the project, charging network station would be set up, followed by the developing of electric vehicles in the second phase.
He said the electric vehicles will have a range of 300km on a single charge.
The minister said the government was ready to facilitate direct foreign investment in Pakistan.
He said the government was committed to collaborating closely with all relevant stakeholders to ensure a smooth process.
He stressed the importance of focusing on green energy, adding that electric vehicles have become a reality.
Rana Tanveer underlined the benefits of electric vehicles, including their lower cost compared to traditional vehicles and fuel savings.
