ADM Group to invest $250mln in Pakistan’s electric vehicle sector

ISLAMABAD, ADM Group Chief Executive Officer (CEO) Yasir Bhambhani on Thursday 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.

In a meeting with 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.ADM group plans $250m investment in Pakistan

He said the electric vehicles will have a range of 300 kilometres 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.