ADM Group Chief Executive Officer (CEO) Yasir Bhambhani said that the ADM Group was keen to invest an amount of $250 million in Pakistan for manufacturing of electric vehicles to provide ecological-friendly automobiles to local consumers.
Federal Minister for Industries and Production Rana Tanveer Hussain, he said the first phase of the project charging network station would be established, followed by the manufacturing of electric vehicles in the second phase. He said the electric vehicles will have a range of 300 kilometers on a single charge.
The minister said the government is ready to facilitate direct foreign investment in the country, and the Ministry of Industries and Production is committed to collaborating closely with all relevant stakeholders to ensure a smooth process. He emphasized the importance of focusing on green energy, adding that electric vehicles have become a reality.
Rana Tanveer highlighted the benefits of electric vehicles, including their lower cost compared to traditional vehicles and fuel savings.
CEO ADM calls on SACM, plans to establish EV charging stations in KP
Chief Executive Officer (CEO) ADM Group, Yasir Bhambhani called on Special Assistant to Chief Minister Khyber Pakhtunkhwa (SACM) on Industries, Commerce and Technical Education, Abdul Karim Tordher, at Khyber Pakhtunkhwa Board of Investment and Trade (KPBoIT) office in Peshawar.
The CEO of ADM Group expressed his commitment to contributing to the sustainable development of the country, particularly in KP’s transportation sector.
It was highlighted that the investment group is interested in bringing investment and job creation at a mega scale and initially, ADM Group plans to invest through the establishment of Electric Vehicle charging stations throughout the province. Through this way, the basic infrastructure needed for Electric Vehicles may be set up.
In the long-term plan, ADM Group shed light upon their aims to set up EV vehicles manufacturing plant with 100% local manufacturing to be done locally.
The CEO also said that his group aims to provide training and up-skilling sessions for the youth along with job opportunities and play a major role in KP’s social and economic uplift.
On this occasion, the SACM appreciated the keen interest of the investment group in the province and expressed his commitment that the govt is desirous to attract investors here to make investments and participate in the potential opportunities.
