Chinese company ADM Group has announced a $350 million investment in Pakistan’s electric vehicle sector, with support from the Special Investment Facilitation Council (SIFC), according to Radio Pakistan. The initiative aims to develop the ecosystem for electric vehicles, reduce carbon emissions, and reduce dependence on traditional fuel.
As part of this investment, 3,000 charging stations for electric vehicles will be established nationwide. The rollout will see the establishment of 1,000 stations in Sindh, 1,500 in Punjab, and 750 in Khyber Pakhtunkhwa and Balochistan.
In addition, ADM Group has allocated $250 million to establish an electric vehicle manufacturing plant, while another $90 million will be invested in building charging infrastructure.
The new electric cars will feature a range of up to 300 kilometers per charge, representing an important step towards sustainable and affordable transportation.
The move is in line with Pakistan’s policy goal of achieving 30% green car sales by 2030, as part of its broader green energy transition.
This initiative builds on ADM Group’s previously announced $250 million investment in electric vehicles, with plans to integrate global resources and manufacturing technologies for locally produced vehicles.
ADM is also looking to export electric vehicles to the Middle East and Asian markets, with potential annual revenues of $900 million.
ADM Group CEO, Yasser Bahambhani, previously highlighted the two-stage approach: establishing a nationwide electric vehicle charging network, followed by vehicle manufacturing.
The factory is expected to produce 72,000 units annually, ranging from economic hatchbacks to luxury sedans and commercial trucks.
This latest investment underscores ADM’s commitment to the electric vehicle sector in Pakistan, supporting government initiatives to reduce carbon emissions and promote green energy solutions.
While the electric vehicle market continues to grow globally – with sales exceeding 10 million units in 2022 – Pakistan’s proactive approach could position it as a competitive player in the region.
ADM’s strategic efforts complement Pakistan’s broader efforts to achieve sustainability, enhance connectivity through electric vehicle charging networks and promote economic growth in the renewable energy sector.