ISLAMABAD: The government of Pakistan has signed a partnership agreement with a top Chinese company to invest $350 million to setup 3,000 Electric Vehicle (EV) charging stations across the country.
The project aims to advance electric mobility and reduce dependency on fuel imports.
Malik Khuda Bakhsh, Convenor of the Energy Standing Committee at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), announced the development during a ceremony at FPCCI headquarters. He added that the EV stations will be strategically located along the motorway connecting Peshawar to Karachi.
He shared that the project will start with an initial investment of $90 million to establish the stations, followed by an additional $250 million allocated for manufacturing by February 2025.
The project is expected to enhance Pakistan’s energy independence, safeguard foreign exchange reserves, and help to reduce environmental pollution.
Bakhsh highlighted the advancements in the electric transportation sector, including the establishment of FV Flash Charging Stations. He also mentioned the growing interest of Chinese investors in Pakistan’s energy sector, with a delegation expected to visit the country soon to explore opportunities in Thar Coalfield and alternative energy projects.
The government of Sindh has promised full support to the investors, offering help with documentation and facilitating business operations.
Last month, the government introduced the New Energy Vehicle (NEV) policy, which aims to transition 30% of all newly imported and locally manufactured vehicles in Pakistan to electric power by 2030. The policy covers electric vehicles (EVs) as well as other emerging energy sources such as hydrogen.
As part of the policy, the government introduced subsidies of Rs5 0,000 for electric motorcycles and Rs200,000 for three-wheelers, with a total allocation of Rs 4 billion.
Currently, China’s leading electric vehicle manufacturer, BYD Group, has secured a manufacturing license in Pakistan. Meanwhile, Dewan Motors is also preparing to launch its electric vehicles under a completely knocked down (CKD) license.
