ADM group plans $250m investment in Pakistan

ISLAMABAD: The ADM Group has expressed its interest in investing $250 million in Pakistan for the production of electric vehicles, aiming to provide eco-friendly automobiles to local consumers.

This interest was conveyed by ADM Group Chief Executive Officer Yasir Bhambhani during a meeting with Minister for Industries and Production Rana Tanveer Hussain in Islamabad today.Pakistan Army arrested three close associates of Faiz Hameed

Yasir Bhambhani outlined that the first phase of the project will involve setting up a charging network station, while the manufacturing of electric vehicles will begin in the second phase. He noted that these vehicles will have a range of 300 kilometers on a single charge.

On this occasion, Rana Tanveer Hussain stated that the government is prepared to support direct foreign investment in the country and that his ministry is dedicated to working closely with all relevant parties to ensure a seamless process.

He emphasized the significance of green energy, noting that electric vehicles have now become a reality. Rana Tanveer also highlighted the advantages of electric vehicles, such as their lower cost compared to conventional vehicles and the savings on fuel.