Hub Power Company Limited (PSX: Hubc), the largest independent product in Pakistan, expands in the electric car shipping sector (EV) through Hub Power Holdings Limited. The company merged a new project, Hubco Green (Private) Limited, which will focus on creating and operating the EV infrastructure throughout the country.
According to the Pakistani Stock Exchange report (PSX), Hubco Green will only create EV charging stations, but will also participate in importing, manufacturing and collecting related accessories. This is the first major invasion of Hubco traditional power generation, as it diversifies its wallet to sustainable energy solutions.
Hubco Green interferes in a cooperation agreement with Pakistani State Oil (PSO) to install shipping stations on multiple PSO sites throughout Pakistan. Given the wide retail network of PSO, this partnership is expected to provide widespread access to EV users, and support the gradual transition of Pakistan towards electrical mobility.
Historically, Hubco, a main player in the energy sector in Pakistan, participated in the generation of thermal energy, with assets in coal, oil and electrical energy projects. The company has also been expanded to repudigated renewable energy and water, and is compatible with global trends towards cleaner energy solutions. With the high fuel costs, government incentives for EV adoption, and the increasing focus on carbon emissions, Hubco’s entry into the EV infrastructure works can be placed as a leader in the advanced energy scene in Pakistan.
This strategic shift reflects the broader Hubco’s ambition to take advantage of the emerging opportunities in sustainable energy solutions.
