Yasir Bhambhani, the CEO of ADM Group, has announced plans to invest $250 million in Pakistan to start manufacturing electric vehicles. During a meeting with Federal Minister for Industries and Production Rana Tanveer Hussain, Bhambhani discussed the details of the ambitious project.
He explained that the project will be carried out in two main phases. The first phase will focus on setting up a network of charging stations across the country, which is essential for supporting the widespread use of electric vehicles. The second phase will involve the actual production of electric vehicles in Pakistan.
These new electric vehicles are expected to have a range of 300 kilometers on a single charge, making them both practical and efficient for everyday use.
Minister Hussain expressed the government’s strong commitment to supporting foreign investment in the country, especially in projects like this one that offer significant economic and environmental benefits.
He highlighted that electric vehicles not only help in saving fuel costs but also contribute to reducing pollution, which is a growing concern.
This investment by ADM Group is seen as a major step forward for Pakistan’s automotive industry and is expected to create new job opportunities, boost technological innovation, and contribute to the country’s economic growth.
The introduction of electric vehicles will also play a crucial role in promoting sustainability and reducing the nation’s carbon footprint.
