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December 13, 2024
Pakistan is courting global EV makers to set up factories in the country - Image: X Screengrab
Pakistan Rolling out a Green Carpet for Global EV Makers
Karachi: Pakistan’s New Energy Vehicle (NEV) policy targets 30% electric vehicle (EV) adoption for new vehicles by the end of 2030 and envisions a gradual transition to a zero-emission road fleet by 2060, positioning itself as an emerging player in the global EV market.
In January, China’s BYD partnered with Habibullah Khan to enter Pakistan’s market. Khan’s holding company, Mega Conglomerate, owns Hub Power Company, one of the largest independent power producers (IPPs) in the country. The announcement said the BYD vehicles would be imported rather than produced domestically.
An EV boom has followed. Pakistan’s Nishat Group announced its automobile division would debut an EV with South Korea’s Hyundai, while another private enterprise issued a statement committing a US$250 million investment in Pakistan’s EV market.
Chinese state-owned automobile manufacturer Changan and MG announced plans to launch their EVs in the Pakistan market, while Chinese electric two-wheeler brand Aima launched an outlet in October .
Awais Leghari , Pakistan’s federal minister of energy, told Asia Times that his team was preparing a draft for setting up charging stations across the country as part of an initiative to promote electric vehicles, motorcycles, and even electric rickshaws.
Yousuf Dewan Companies, notable for representing BMW in Pakistan, recently partnered with Chinese EV charger producer Donar. The joint venture aims to provide the essential infrastructure for EV charging.
Other Chinese companies such as Great Wall Motors, BAIC, Changan, JAC Motors, FAW, and Chery Automobiles are also rapidly expanding their footprints in the country.
Adopting EVs offers Pakistan an opportunity to reduce its reliance on imported fossil fuels , a dependency that not only drains foreign exchange but also exposes the nation to global oil price volatility. - Asia Times
Courtesy Asia Times
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