ADM Group has committed $250 million to Pakistan’s electric vehicle (EV) sector, marking a major milestone for the country’s automotive industry.
This significant investment was confirmed during a meeting between Pakistan’s Minister for Industries and Production, Rana Tanveer Hussain, and ADM Group’s CEO in Islamabad.
The investment will be executed in two phases. The first phase involves establishing a nationwide network of EV charging stations over the next three to five years, with an investment of $100 million allocated to install 3,000 charging units.
The second phase will focus on setting up an EV manufacturing facility with a $150 million budget. This plant aims to produce electric vehicles capable of traveling up to 300 kilometers on a single charge.
Minister Hussain emphasized the Pakistani government’s commitment to facilitating foreign direct investment (FDI) and supporting the green energy transition.
He assured that any hurdles faced by ADM Group, including permissions for installing charging stations, will be resolved to ensure smooth project execution.
This move aligns with Pakistan’s broader goal to have 30% of new cars sold by 2030 be environmentally friendly.
ADM Group’s investment supports this objective and promises to enhance the country’s infrastructure and employment opportunities, contributing to economic growth and sustainability.
