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Skywell Automobile Invests $50m to Launch Electric Vehicles in Pakistan

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Now Reading: Skywell Automobile Invests $50m to Launch Electric Vehicles in Pakistan

The Chinese vehicle manufacturing titan – Skywell Automobile – is going to invest 50 million dollars to launch electric buses in Pakistan this year. This information was revealed by the Federal Minister for Science and Technology, Fawad Chaudhry, on Tuesday while talking to the media.

While talking to a private news channel, the Federal Minister said that the $50m investment is planned for the first phase of the collaboration. In the second phase, the Chinese firm will enable Pakistan to start the manufacturing of electric buses locally. Fawad Chaudhry added that electric buses would hit the road starting this year and will be operating in Islamabad and Lahore in the start.

Furthermore, the Ministry of Science and Technology said in a statement that the introduction of Electric Vehicles will help in establishing a flourishing eco-friendly system and will help to reduce the effects of global warming. It added;

“Pakistan was recognized as one of the country’s most affected by climate change, where the transport sector contributes more than 40pc to air pollution. With the introduction of Electric Vehicles, Pakistan becomes the first South Asian country to have eco-friendly vehicles.”

Skywell Automobile and Daewoo Express Sign Historic Agreement

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Electric vehicles have long been in the debate about being the goal for the progression of automotive industry. There is also no denying the fact that electric vehicles are the best environmentally friendly solution to pollution problems. Keeping this in mind, earlier in the year, Pakistan’s first electrical vehicles charging station was launched by “Attock Oil” in Islamabad. Fawad Chaudhry said that the establishment of the station was one of the Ministry of Information and Technology’s goal for initiating the promotion of the electronic vehicle as an efficient means of transportation in Pakistan.

Looks like the step in this direction paid off. Last week, a ceremony was held in Islamabad for the signing of a strategic alliance agreement between the Chinese vehicle manufacturing titan i.e. Skywell Automobile and Pakistani trend setting private transport company i.e. Daewoo Express. Under this agreement, both of the companies will work together to introduce electric buses and other electric vehicles in Pakistan. The end goal would be to create a technical support base in the country and make local manufacturing of electric vehicles in the country possible.

Ambassador of China in Pakistan – Yao Jing – also spoke on the occasion and reiterated the strong ties between China and Pakistan. He also praised the spirit of collaboration that the private sector organizations of both the countries have. The ambassador added that China is playing a key role in promoting technological advancements in Pakistan via the CPECA and is conducting such business ventures which will create an overall environmental and economic betterment in Pakistan.

Explaining the deal, Fawad Chaudhry stated that a value chain for an electric vehicle will be created in Pakistan through this agreement. He further revealed that a battery bus service in Pakistan will start soon and when the 5G service will eventually become operation in the country, several of the sectors will automatically become obsolete.

“This will not only increase our economy, but also create huge employment and investment opportunities in the country,” the Federal Minister concluded.

 

Also read: Pak Air Force Starts AI Development to Improve Warfare Capabilities

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