EV industry poised for growth with international partnerships, investments
samaa.tv, 2 Jan '25
Pakistan's electric vehicle (EV) industry is expected to expand significantly, with the Special Investment Facilitation Council (SIFC) facilitating international partnerships and infrastructure development initiatives.
The country's National Electric Vehicle Policy targets a 30% adoption rate for EVs by 2030, with several international automotive manufacturers announcing plans to enter the market.
Chinese manufacturers such as Changan, MG Motors, and AIMA have announced plans to launch electric vehicles in Pakistan. Additionally, Pakistan's Nishat Group has partnered with South Korea's Hyundai to introduce EVs.
These initiatives are supported by US$ 250 million in private investment, facilitated through SIFC. Minister for Energy Owais Leghari has confirmed plans to establish charging stations for electric cars, motorcycles, and rickshaws across the country.
Industry analysts highlight Pakistan's geographic location as a potential platform for EV exports. The infrastructure development strategy includes the creation of a nationwide charging station network, establishment of EV manufacturing facilities, and development of supporting infrastructure for electric two- and three-wheelers.
SIFC's role includes facilitating international partnerships, supporting policy implementation, attracting foreign direct investment, and coordinating with automotive manufacturers to ensure smooth market entry and operations.
The initiative aligns with Pakistan's environmental sustainability goals and aims to foster the development of a new industrial sector. The project covers both personal and commercial vehicle segments, with infrastructure development planned for urban and inter-city routes.
Observers note that successful implementation could establish Pakistan as a significant player in the regional EV manufacturing sector, due to its strategic geographic location and existing automotive manufacturing base.
The coordinated effort between government agencies, international manufacturers, and private investors suggests a well-structured approach to developing the country's EV industry.
