ADM Group to invest $250m in Pakistan's electric vehicle manufacturing

MG News | August 15, 2024 at 05:01 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

August 15, 2024 (MLN): A major milestone has emerged for Pakistan's automobile industry, as ADM Group has announced a $250 million investment for the manufacturing of electric vehicles in Pakistan.

This understanding was reached at a meeting between Minister for Industries and Production Rana Tanveer Hussain and the Chief Executive Officer of the ADM Group in Islamabad today, as reported by the Information Ministry.

The CEO of ADM Group briefed the Minister that charging network stations will be established in the first phase of the project, while manufacturing of the electric vehicles will commence in the second phase.

He informed that an electric vehicle can cover a distance of 300 kilometers on one charge.

The Minister, on the occasion, assured all possible facilitation to attract Foreign Direct Investment.

He said electric vehicles have become a reality due to the focus on green energy and are cheaper than other automobiles.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	175,802.79 267.06M	-1.30% -2320.78
ALLSHR	106,568.29 617.78M	-1.25% -1352.24
KSE30	52,497.68 83.82M	-1.25% -665.92
KMI30	247,323.37 106.69M	-1.37% -3422.76
KMIALLSHR	68,315.26 363.70M	-1.37% -952.13
BKTi	49,936.11 23.35M	-1.18% -594.28
OGTi	34,758.02 9.23M	-1.71% -605.59

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	64,705.00	65,000.00 63,980.00	435.00 0.68%
BRENT CRUDE	88.26	88.38 83.71	4.03 4.78%
RICHARDS BAY COAL MONTHLY	105.75	0.00 0.00	-0.65 -0.61%
ROTTERDAM COAL MONTHLY	119.80	120.30 119.80	0.00 0.00%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	81.77	82.07 77.93	3.49 4.46%
SUGAR #11 WORLD	14.82	14.94 14.39	0.38 2.63%