Chinese company to invest $340m in EV manufacturing, charging stations in Pakistan

KARACHI: A significant development for Pakistan’s economy is on the horizon as a Chinese group has announced an investment of $340 million to set up electric vehicle (EV) manufacturing and charging stations across the country.

Sindh Energy Minister Syed Nasir Hussain Shah assured full cooperation from the Sindh government, adding that the province would provide all necessary facilities to the Chinese company, including land for the plants.

“If the company manufactures electric vehicles in Pakistan, the Sindh government will purchase over 20 per cent of the vehicles produced at the Karachi plant,” Shah revealed during a press briefing held at a local hotel for the inauguration of a joint project between Malik Group and China’s ADEN Group.

Chairperson of Malik Group Malik Khuda Bakhsh announced that 30 charging plants will be delivered from China within the next 10 days, with nationwide installations starting soon. “We aim to have the necessary infrastructure operational by the end of this year,” Bakhsh said, highlighting that the first station has already been set up in Karachi, with Lahore set to follow suit on Thursday.

ADEN Group, CEO of Yasser Bhambani, detailed the company’s financial commitment to the project, revealing plans to invest $90 million for 3,000 charging stations and $240 million for an EV manufacturing plant. “By December, electric vehicle production will begin, with an annual output target of 72,000 units.

We also plan to export vehicles to the Middle East, Sri Lanka and Bangladesh,” Bhambani shared. The event was attended by prominent figures in the industrial and business sectors, including Arif Habib, Zubair Tufail, Khalid Tawab and Mirza Ishtiaq Baig.